Inspire Investing LLC bought a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 34,479 shares of the textile maker's stock, valued at approximately $1,052,000. Inspire Investing LLC owned 0.08% of G-III Apparel Group as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of GIII. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group during the second quarter valued at $42,000. CWM LLC raised its position in shares of G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker's stock valued at $51,000 after buying an additional 1,012 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of G-III Apparel Group in the 2nd quarter valued at about $78,000. Innealta Capital LLC purchased a new position in G-III Apparel Group in the second quarter worth about $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in G-III Apparel Group in the first quarter worth about $171,000. 92.13% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on GIII. Guggenheim initiated coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a "buy" rating and a $36.00 price target for the company. StockNews.com lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Friday. Barclays upped their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an "underweight" rating in a report on Friday, September 6th. KeyCorp raised their price objective on shares of 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. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, G-III Apparel Group currently has an average rating of "Hold" and a consensus price target of $30.00.
Get Our Latest Research Report on G-III Apparel Group
Insider Transactions 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 dated 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 completion of the transaction, the chief executive officer now directly owns 3,923,071 shares of the company's stock, valued at $118,869,051.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.40% of the company's stock.
G-III Apparel Group Price Performance
G-III Apparel Group stock traded up $0.06 during midday trading on Monday, reaching $30.51. The company had a trading volume of 331,604 shares, compared to its average volume of 596,646. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The company has a market capitalization of $1.37 billion, a P/E ratio of 7.97 and a beta of 2.19. The firm's fifty day simple moving average is $28.27 and its 200-day simple moving average is $27.85.
G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.25. The company 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%. G-III Apparel Group's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.
G-III Apparel Group Profile
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Free Report)
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.
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