G-III Apparel Group, Ltd. (GIII) CEO Morris Goldfarb Sells 770,000 Shares

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 770,000 shares of G-III Apparel Group stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $47.32, for a total value of $36,436,400.00. Following the transaction, the chief executive officer now owns 3,812,427 shares of the company’s stock, valued at approximately $180,404,045.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Morris Goldfarb also recently made the following trade(s):

  • On Friday, June 15th, Morris Goldfarb sold 161,190 shares of G-III Apparel Group stock. The stock was sold at an average price of $47.11, for a total value of $7,593,660.90.

GIII stock traded up $0.34 during mid-day trading on Tuesday, hitting $47.88. 926,000 shares of the company were exchanged, compared to its average volume of 662,328. The company has a quick ratio of 1.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2.31 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 1.33 and a beta of 0.25. G-III Apparel Group, Ltd. has a 1-year low of $21.65 and a 1-year high of $51.20.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Tuesday, June 5th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.27. The firm had revenue of $611.70 million during the quarter, compared to the consensus estimate of $570.59 million. G-III Apparel Group had a net margin of 2.85% and a return on equity of 9.15%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. research analysts expect that G-III Apparel Group, Ltd. will post 2.35 EPS for the current year.

A number of equities analysts recently commented on the company. BidaskClub cut G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Zacks Investment Research upgraded G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Thursday, June 7th. ValuEngine upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Thursday, March 29th. Telsey Advisory Group reduced their price target on G-III Apparel Group from $53.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, March 23rd. Finally, Buckingham Research lifted their price target on G-III Apparel Group from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, June 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. G-III Apparel Group currently has a consensus rating of “Buy” and a consensus price target of $46.64.

A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH lifted its position in G-III Apparel Group by 592.3% during the first quarter. Allianz Asset Management GmbH now owns 166,000 shares of the textile maker’s stock worth $6,255,000 after acquiring an additional 142,023 shares during the last quarter. Principal Financial Group Inc. lifted its position in G-III Apparel Group by 3.5% during the first quarter. Principal Financial Group Inc. now owns 333,867 shares of the textile maker’s stock worth $12,580,000 after acquiring an additional 11,171 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in G-III Apparel Group during the first quarter worth approximately $246,000. Royal Bank of Canada lifted its position in G-III Apparel Group by 14.6% during the first quarter. Royal Bank of Canada now owns 1,295,215 shares of the textile maker’s stock worth $48,803,000 after acquiring an additional 164,565 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in G-III Apparel Group by 5.6% during the first quarter. Legal & General Group Plc now owns 88,169 shares of the textile maker’s stock worth $3,290,000 after acquiring an additional 4,713 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

About G-III Apparel Group

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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