Insider Buying: G-III Apparel Group, LTD. (NASDAQ:GIII) Director Purchases 5,000 Shares of Stock

G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report) Director Amigo Victor Herrero purchased 5,000 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was purchased at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the purchase, the director now directly owns 54,746 shares of the company's stock, valued at $1,201,674.70. This trade represents a 10.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

G-III Apparel Group Stock Down 0.7%

NASDAQ GIII traded down $0.15 on Friday, reaching $22.34. 1,618,693 shares of the stock traded hands, compared to its average volume of 574,428. The company has a market cap of $967.55 million, a price-to-earnings ratio of 5.17 and a beta of 1.48. The firm's fifty day simple moving average is $25.30 and its 200 day simple moving average is $27.82. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $583.61 million during the quarter, compared to analyst estimates of $579.48 million. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%. The company's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.12 EPS. As a group, equities research analysts forecast that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On G-III Apparel Group

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of G-III Apparel Group by 5,154.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker's stock worth $32,000 after acquiring an additional 1,134 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of G-III Apparel Group in the fourth quarter worth $49,000. Smartleaf Asset Management LLC boosted its position in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after buying an additional 1,412 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of G-III Apparel Group in the fourth quarter worth $68,000. Finally, Strs Ohio acquired a new stake in shares of G-III Apparel Group in the first quarter worth $77,000. 92.13% of the stock is owned by institutional investors.

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.