G-III Apparel Group (NASDAQ:GIII) Trading Down 4.3%

G-III Apparel Group, Ltd. (NASDAQ:GIII) fell 4.3% during trading on Wednesday . The company traded as low as $29.13 and last traded at $29.13. 88,841 shares changed hands during trading, a decline of 85% from the average session volume of 601,263 shares. The stock had previously closed at $30.45.

Analyst Upgrades and Downgrades

GIII has been the topic of several recent analyst reports. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. KeyCorp increased their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. Finally, Barclays increased their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.80.

G-III Apparel Group Stock Down 4.2 %

The firm has a market capitalization of $1.31 billion, a PE ratio of 7.97 and a beta of 2.19. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $27.75 and a two-hundred day moving average of $27.74.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. During the same period last year, the business posted $0.40 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

Insider Buying and Selling

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in shares of G-III Apparel Group during the second quarter worth about $78,000. Point72 Asia Singapore Pte. Ltd. bought a new position in G-III Apparel Group during the 2nd quarter worth approximately $42,000. Sanctuary Advisors LLC acquired a new position in shares of G-III Apparel Group in the 2nd quarter worth approximately $382,000. Point72 Asset Management L.P. bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $2,409,000. Finally, AQR Capital Management LLC raised its position in shares of G-III Apparel Group by 37.9% during the 2nd quarter. AQR Capital Management LLC now owns 285,981 shares of the textile maker’s stock valued at $7,742,000 after acquiring an additional 78,607 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.