G-III Apparel Group, LTD. (GIII) COO Sells $1,478,000.00 in Stock

G-III Apparel Group, LTD. (NASDAQ:GIII) COO Wayne S. Miller sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $29.56, for a total value of $1,478,000.00. Following the sale, the chief operating officer now owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

G-III Apparel Group, LTD. (NASDAQ:GIII) opened at 28.22 on Friday. The company has a market capitalization of $1.38 billion, a P/E ratio of 42.89 and a beta of 0.26. The firm has a 50-day moving average price of $27.11 and a 200 day moving average price of $24.34. G-III Apparel Group, LTD. has a 12 month low of $18.00 and a 12 month high of $32.98.

G-III Apparel Group, LTD. (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.11. G-III Apparel Group, LTD. had a return on equity of 4.65% and a net margin of 1.23%. The company had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $522.45 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue was up 21.6% on a year-over-year basis. Analysts expect that G-III Apparel Group, LTD. will post $1.35 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in shares of G-III Apparel Group, LTD. in the second quarter valued at approximately $13,037,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of G-III Apparel Group, LTD. in the second quarter valued at approximately $400,000. Public Employees Retirement System of Ohio lifted its position in shares of G-III Apparel Group, LTD. by 2.2% in the second quarter. Public Employees Retirement System of Ohio now owns 64,541 shares of the textile maker’s stock valued at $1,610,000 after buying an additional 1,405 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of G-III Apparel Group, LTD. in the second quarter valued at approximately $236,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of G-III Apparel Group, LTD. by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 34,030 shares of the textile maker’s stock valued at $849,000 after buying an additional 438 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on GIII. Telsey Advisory Group upgraded G-III Apparel Group, LTD. from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $36.00 in a report on Wednesday, September 6th. BidaskClub upgraded G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a report on Friday, June 30th. KeyCorp reiterated a “buy” rating and set a $41.00 price target on shares of G-III Apparel Group, LTD. in a report on Thursday, August 24th. Piper Jaffray Companies set a $22.00 price target on G-III Apparel Group, LTD. and gave the company a “hold” rating in a report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating and set a $30.00 price target for the company in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.42.

G-III Apparel Group, LTD. Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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