G-III Apparel Group (NASDAQ:GIII) Shares Gap Down – Here’s What Happened

G-III Apparel Group, Ltd. (NASDAQ:GIII) gapped down prior to trading on Friday . The stock had previously closed at $33.67, but opened at $32.36. G-III Apparel Group shares last traded at $33.31, with a volume of 93,826 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on GIII. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a research report on Wednesday. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Guggenheim increased their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp boosted their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Trading Down 2.5 %

The firm has a market cap of $1.44 billion, a P/E ratio of 8.62 and a beta of 2.14. The business’s 50 day moving average is $31.50 and its 200-day moving average is $28.97. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.78 EPS. As a group, analysts forecast that G-III Apparel Group, Ltd. will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction 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 transaction, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. F M Investments LLC acquired a new position in G-III Apparel Group during the 2nd quarter valued at approximately $6,796,000. Marshall Wace LLP lifted its stake in G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after buying an additional 206,993 shares during the last quarter. Barclays PLC boosted its holdings in shares of G-III Apparel Group by 236.4% during the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after acquiring an additional 198,647 shares during the period. Jane Street Group LLC grew its position in shares of G-III Apparel Group by 269.9% during the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after acquiring an additional 183,246 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of G-III Apparel Group by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock worth $31,054,000 after acquiring an additional 155,079 shares during the period. 92.13% of the stock is currently owned by institutional investors.

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.