Insider Buying: G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Buys 40,000 Shares of Stock

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb acquired 40,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was bought at an average cost of $26.47 per share, for a total transaction of $1,058,800.00. Following the purchase, the chief executive officer now directly owns 3,250,483 shares of the company’s stock, valued at $86,040,285.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Thursday, June 13th, Morris Goldfarb acquired 37,106 shares of G-III Apparel Group stock. The stock was bought at an average cost of $25.39 per share, for a total transaction of $942,121.34.

NASDAQ:GIII opened at $28.40 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.17 and a quick ratio of 1.17. G-III Apparel Group, Ltd. has a 12-month low of $23.34 and a 12-month high of $50.83. The stock’s 50-day simple moving average is $27.25. The stock has a market capitalization of $1.39 billion, a PE ratio of 9.93, a P/E/G ratio of 0.77 and a beta of 1.40.



G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. The firm had revenue of $633.60 million during the quarter, compared to analysts’ expectations of $650.03 million. During the same quarter last year, the business posted $0.22 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Research analysts predict that G-III Apparel Group, Ltd. will post 3.27 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its position in shares of G-III Apparel Group by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,248 shares of the textile maker’s stock worth $649,000 after purchasing an additional 293 shares in the last quarter. NumerixS Investment Technologies Inc grew its position in shares of G-III Apparel Group by 6.6% during the fourth quarter. NumerixS Investment Technologies Inc now owns 4,902 shares of the textile maker’s stock worth $136,000 after purchasing an additional 302 shares in the last quarter. Nvwm LLC grew its position in shares of G-III Apparel Group by 9.9% during the first quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock worth $171,000 after purchasing an additional 384 shares in the last quarter. Zions Bancorporation N.A. grew its position in shares of G-III Apparel Group by 5.5% during the second quarter. Zions Bancorporation N.A. now owns 7,931 shares of the textile maker’s stock worth $233,000 after purchasing an additional 415 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in shares of G-III Apparel Group by 3.4% during the first quarter. Mason Street Advisors LLC now owns 13,473 shares of the textile maker’s stock worth $538,000 after purchasing an additional 445 shares in the last quarter.

Several research analysts have recently commented on GIII shares. Needham & Company LLC set a $47.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, June 6th. Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. KeyCorp decreased their price objective on G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Barclays reaffirmed a “buy” rating on shares of Bayerische Motoren Werke in a research note on Friday, March 22nd. Finally, Bank of America set a $20.00 price objective on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. G-III Apparel Group has a consensus rating of “Buy” and an average price target of $41.70.

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 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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