G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,809 shares of the textile maker’s stock after selling 465 shares during the period. Amalgamated Bank’s holdings in G-III Apparel Group were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of G-III Apparel Group in the 3rd quarter valued at approximately $3,671,000. Pallas Capital Advisors LLC purchased a new position in G-III Apparel Group in the third quarter worth $229,000. Guidance Capital Inc. lifted its holdings in G-III Apparel Group by 2.0% in the third quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock valued at $563,000 after acquiring an additional 331 shares during the period. Inspire Advisors LLC acquired a new position in shares of G-III Apparel Group during the 3rd quarter worth $375,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of G-III Apparel Group in the 3rd quarter valued at about $1,176,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $30.33 on Monday. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The business has a fifty day moving average of $30.85 and a 200-day moving average of $28.38. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 7.58 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GIII shares. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Guggenheim began coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 target price on the stock. Finally, KeyCorp raised their price target 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.00.

Insider Activity

In related news, CEO Morris Goldfarb sold 67,014 shares of the firm’s 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 sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.40% 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.