Insider Selling: G-III Apparel Group, Ltd. (GIII) Director Sells $282,000.18 in Stock
G-III Apparel Group, Ltd. (NASDAQ:GIII) Director Bokhorst Willem Van sold 7,518 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $37.51, for a total value of $282,000.18. Following the transaction, the director now directly owns 48,667 shares of the company’s stock, valued at $1,825,499.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) opened at $36.89 on Friday. G-III Apparel Group, Ltd. has a 52-week low of $18.00 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.91 and a current ratio of 3.52. The stock has a market capitalization of $1,810.60, a P/E ratio of 31.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Tuesday, December 5th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.13. G-III Apparel Group had a return on equity of 5.65% and a net margin of 1.58%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. equities research analysts predict that G-III Apparel Group, Ltd. will post 1.5 EPS for the current year.
A number of hedge funds have recently modified their holdings of GIII. Columbus Circle Investors purchased a new stake in shares of G-III Apparel Group in the third quarter worth approximately $30,233,000. Victory Capital Management Inc. purchased a new stake in shares of G-III Apparel Group in the second quarter worth approximately $23,202,000. Dimensional Fund Advisors LP raised its holdings in shares of G-III Apparel Group by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock worth $72,478,000 after buying an additional 907,701 shares during the period. Phocas Financial Corp. purchased a new stake in shares of G-III Apparel Group in the second quarter worth approximately $13,037,000. Finally, Cramer Rosenthal Mcglynn LLC raised its holdings in shares of G-III Apparel Group by 26.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,816,332 shares of the textile maker’s stock worth $45,317,000 after buying an additional 382,482 shares during the period.
A number of equities analysts recently commented on GIII shares. Zacks Investment Research lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Piper Jaffray Companies set a $33.00 price target on G-III Apparel Group and gave the company a “buy” rating in a research note on Thursday, October 19th. Telsey Advisory Group raised G-III Apparel Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $27.00 to $36.00 in a research note on Wednesday, September 6th. Cowen set a $30.00 price target on G-III Apparel Group and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, FBR & Co reissued a “buy” rating and set a $33.00 price target on shares of G-III Apparel Group in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. G-III Apparel Group presently has a consensus rating of “Buy” and a consensus target price of $34.83.
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About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.
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