Insider Buying: G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Purchases $1,058,800.00 in Stock

Share on StockTwits

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

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

  • On Thursday, June 13th, Morris Goldfarb purchased 37,106 shares of G-III Apparel Group stock. The stock was purchased 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. G-III Apparel Group, Ltd. has a 12 month low of $23.34 and a 12 month high of $50.83. 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. The business has a fifty day moving average of $27.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 2.17.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $650.03 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts expect that G-III Apparel Group, Ltd. will post 3.27 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. Acadian Asset Management LLC grew its stake in shares of G-III Apparel Group by 1,780.0% in the fourth quarter. Acadian Asset Management LLC now owns 1,974 shares of the textile maker’s stock worth $55,000 after acquiring an additional 1,869 shares during the last quarter. BlackRock Inc. grew its stake in shares of G-III Apparel Group by 2.3% in the fourth quarter. BlackRock Inc. now owns 6,147,989 shares of the textile maker’s stock worth $171,469,000 after acquiring an additional 135,596 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of G-III Apparel Group by 4.4% in the fourth quarter. Texas Permanent School Fund now owns 27,453 shares of the textile maker’s stock worth $766,000 after acquiring an additional 1,151 shares during the last quarter. Advisor Group Inc. grew its stake in shares of G-III Apparel Group by 98.1% in the fourth quarter. Advisor Group Inc. now owns 6,797 shares of the textile maker’s stock worth $190,000 after acquiring an additional 3,366 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of G-III Apparel Group by 232.9% in the fourth quarter. GSA Capital Partners LLP now owns 15,522 shares of the textile maker’s stock worth $433,000 after acquiring an additional 10,859 shares during the last quarter.

GIII has been the topic of several recent research reports. Bank of America set a $20.00 price target on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a research note on Thursday, June 6th. Needham & Company LLC set a $47.00 price target on G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, June 6th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Barclays reaffirmed a “buy” rating on shares of Bayerische Motoren Werke in a research note on Friday, March 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $36.00 price target (down from $38.00) on shares of Steven Madden in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price 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.

Featured Article: How to Calculate Compound Annual Growth Rate (CAGR)

Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.