G-III Apparel Group, LTD. (NASDAQ:GIII) Director Amigo Victor Herrero Purchases 5,000 Shares

G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report) Director Amigo Victor Herrero acquired 5,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now owns 54,746 shares in the company, valued at $1,201,674.70. This represents a 10.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

G-III Apparel Group Stock Down 1.2%

Shares of NASDAQ:GIII traded down $0.26 during trading on Wednesday, hitting $21.75. 706,481 shares of the company traded hands, compared to its average volume of 572,213. The business's fifty day moving average is $25.40 and its 200-day moving average is $28.01. The stock has a market capitalization of $941.99 million, a price-to-earnings ratio of 5.03 and a beta of 1.48. G-III Apparel Group, LTD. has a one year low of $20.33 and a one year high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The firm had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%. The firm's revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. On average, analysts forecast that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in shares of G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock valued at $1,438,000 after purchasing an additional 14,016 shares during the period. Phocas Financial Corp. boosted its stake in G-III Apparel Group by 84.4% during the fourth quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker's stock valued at $7,634,000 after buying an additional 107,082 shares in the last quarter. GAMMA Investing LLC grew its holdings in G-III Apparel Group by 3,366.6% during the first quarter. GAMMA Investing LLC now owns 23,330 shares of the textile maker's stock worth $638,000 after acquiring an additional 22,657 shares during the period. Victory Capital Management Inc. grew its holdings in G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock worth $18,430,000 after acquiring an additional 472,862 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in G-III Apparel Group in the fourth quarter worth about $375,000. Institutional investors own 92.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GIII. Telsey Advisory Group decreased their price target on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research note on Monday, June 9th. Barclays decreased their target price on G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, June 9th. UBS Group lowered their price target on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, June 9th. Wall Street Zen cut G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, KeyCorp decreased their price objective on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, G-III Apparel Group presently has a consensus rating of "Hold" and an average target price of $27.80.

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.

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