SG Americas Securities LLC Sells 87,954 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

SG Americas Securities LLC cut its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 92.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,354 shares of the textile maker’s stock after selling 87,954 shares during the period. SG Americas Securities LLC’s holdings in G-III Apparel Group were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Foundry Partners LLC bought a new position in shares of G-III Apparel Group in the 2nd quarter worth about $518,000. Hillsdale Investment Management Inc. bought a new stake in G-III Apparel Group in the 1st quarter valued at about $913,000. Caxton Associates LP increased its position in G-III Apparel Group by 283.2% in the 1st quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock valued at $1,002,000 after buying an additional 25,535 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in G-III Apparel Group by 167.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 53,814 shares of the textile maker’s stock valued at $1,561,000 after buying an additional 33,690 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after buying an additional 482 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Guggenheim assumed coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price for the company. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. Barclays boosted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, KeyCorp boosted their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

G-III Apparel Group Stock Performance

Shares of GIII opened at $31.34 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The stock has a 50 day moving average price of $29.18 and a two-hundred day moving average price of $28.01. The firm has a market capitalization of $1.41 billion, a P/E ratio of 8.20 and a beta of 2.19. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued 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 firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same period in the previous year, the company posted $0.40 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

About G-III Apparel Group

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.