State Street Corp Sells 25,582 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

State Street Corp lowered its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,602,983 shares of the textile maker's stock after selling 25,582 shares during the period. State Street Corp owned 3.65% of G-III Apparel Group worth $48,923,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. acquired a new position in shares of G-III Apparel Group in the second quarter valued at $257,000. F M Investments LLC acquired a new position in G-III Apparel Group in the 2nd quarter valued at about $6,796,000. Innealta Capital LLC bought a new position in G-III Apparel Group in the 2nd quarter valued at about $124,000. Guidance Capital Inc. lifted its position in G-III Apparel Group by 11.1% during the second quarter. Guidance Capital Inc. now owns 16,530 shares of the textile maker's stock worth $456,000 after acquiring an additional 1,657 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new stake in shares of G-III Apparel Group during the second quarter worth approximately $1,514,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the sale, the chief executive officer now owns 3,990,085 shares in the company, valued at $126,046,785.15. This trade represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GIII shares. Guggenheim lifted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Barclays lifted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an "underweight" rating in a report on Wednesday, December 11th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday. KeyCorp boosted their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an "overweight" rating in a 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 analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $33.17.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock traded down $0.84 on Friday, reaching $32.83. 3,816,438 shares of the stock were exchanged, compared to its average volume of 576,066. The firm's 50 day moving average is $31.45 and its 200-day moving average is $28.96. The firm has a market cap of $1.44 billion, a PE ratio of 8.62 and a beta of 2.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 2.63. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18.

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

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.