G-III Apparel Group, Ltd. (NASDAQ:GIII) shares saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 3,774,450 shares traded hands during mid-day trading, an increase of 499% from the previous session’s volume of 630,404 shares.The stock last traded at $46.05 and had previously closed at $44.06.

The textile maker reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.19. G-III Apparel Group had a net margin of 2.85% and a return on equity of 9.15%. The firm had revenue of $624.70 million during the quarter, compared to analyst estimates of $590.16 million. During the same quarter last year, the business posted ($0.15) EPS. The company’s revenue was up 16.1% on a year-over-year basis.

A number of research firms have issued reports on GIII. Buckingham Research increased their target price on shares of G-III Apparel Group from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC set a $56.00 target price on shares of G-III Apparel Group and gave the stock a “buy” rating in a research report on Friday. Barclays set a $50.00 target price on shares of G-III Apparel Group and gave the stock a “hold” rating in a research report on Friday. ValuEngine downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research upgraded shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a research report on Thursday, June 7th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $51.91.

In other G-III Apparel Group news, Director Bokhorst Willem Van sold 9,323 shares of the stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $44.04, for a total value of $410,584.92. Following the completion of the sale, the director now owns 45,451 shares in the company, valued at approximately $2,001,662.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Morris Goldfarb sold 770,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $47.32, for a total transaction of $36,436,400.00. Following the completion of the sale, the chief executive officer now owns 3,812,427 shares of the company’s stock, valued at approximately $180,404,045.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 942,513 shares of company stock valued at $44,534,646. Insiders own 9.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Nvwm LLC bought a new position in shares of G-III Apparel Group during the 1st quarter valued at $121,000. Acadian Asset Management LLC bought a new position in shares of G-III Apparel Group during the 2nd quarter valued at $193,000. SG Americas Securities LLC bought a new position in shares of G-III Apparel Group during the 1st quarter valued at $172,000. Everence Capital Management Inc. bought a new position in shares of G-III Apparel Group during the 2nd quarter valued at $227,000. Finally, AMP Capital Investors Ltd bought a new position in shares of G-III Apparel Group during the 2nd quarter valued at $266,000.

The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.33 and a current ratio of 2.35.

About G-III Apparel Group (NASDAQ:GIII)

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.

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