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

SG Americas Securities LLC lessened its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 92.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC grew its stake in shares of G-III Apparel Group by 115.0% in 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 during the period. Point72 DIFC Ltd bought a new stake in G-III Apparel Group in the 2nd quarter valued at about $78,000. Innealta Capital LLC acquired a new position in G-III Apparel Group during the 2nd quarter worth approximately $124,000. Finally, Allspring Global Investments Holdings LLC bought a new position in G-III Apparel Group in the first quarter worth approximately $171,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th. Telsey Advisory Group reiterated 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. KeyCorp raised their price target on shares of 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. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, Guggenheim assumed 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. Two research 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $30.00.

Insider Buying and Selling

In other news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.40% of the stock is currently owned by insiders.

G-III Apparel Group Stock Performance

Shares of GIII traded down $0.49 on Wednesday, reaching $30.85. 266,357 shares of the company's stock traded hands, compared to its average volume of 589,291. The stock's 50 day simple moving average is $29.31 and its two-hundred day simple moving average is $28.03. The stock has a market cap of $1.39 billion, a PE ratio of 8.08 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. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its 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. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analysts' expectations of $649.54 million. During the same period in the previous year, the business posted $0.40 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

G-III Apparel Group 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.