G-III Apparel Group (NASDAQ:GIII) CEO Buys $1,117,600.00 in Stock

Key Points

• CEO Morris Goldfarb purchased 40,000 G-III shares at $27.94 each, investing $1.12 million and increasing his direct ownership to 4.53 million shares.
• G-III reported quarterly EPS of $0.26, beating estimates by $0.03, but revenue fell 9.7% year over year to $554.1 million and missed expectations.
• The company declared a quarterly dividend of $0.10 per share, while analysts maintained a “Moderate Buy” consensus with an average price target of $34.50 versus the stock’s recent price near $27.76.

G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report) CEO Morris Goldfarb bought 40,000 shares of the firm's stock in a transaction on Monday, September 14th. The shares were bought at an average cost of $27.94 per share, with a total value of $1,117,600.00. Following the transaction, the chief executive officer directly owned 4,527,675 shares of the company's stock, valued at approximately $126,503,239.50. This trade represents a 0.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

G-III Apparel Group Price Performance

NASDAQ:GIII traded down $0.07 during midday trading on Tuesday, reaching $27.76. The stock had a trading volume of 816,119 shares, compared to its average volume of 548,875. The stock has a market capitalization of $1.19 billion, a P/E ratio of 9.13 and a beta of 1.27. G-III Apparel Group, LTD. has a 1-year low of $24.61 and a 1-year high of $37.54. The firm's fifty day simple moving average is $33.44 and its 200-day simple moving average is $31.70.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The company had revenue of $554.09 million during the quarter, compared to analysts' expectations of $570.37 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business's quarterly revenue was down 9.7% compared to the same quarter last year. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. On average, equities research analysts anticipate that G-III Apparel Group, LTD. will post 2.25 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. G-III Apparel Group's dividend payout ratio is 13.16%.

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 GIII. Engineers Gate Manager LP increased its holdings in G-III Apparel Group by 330.4% in the second quarter. Engineers Gate Manager LP now owns 84,169 shares of the textile maker's stock valued at $2,837,000 after purchasing an additional 64,615 shares during the last quarter. Baird Financial Group Inc. lifted its position in G-III Apparel Group by 8.5% in the 2nd quarter. Baird Financial Group Inc. now owns 266,791 shares of the textile maker's stock valued at $8,994,000 after acquiring an additional 20,848 shares in the last quarter. Nykredit A S acquired a new position in G-III Apparel Group in the 2nd quarter worth $33,000. Amundi bought a new position in G-III Apparel Group during the 2nd quarter worth about $344,000. Finally, HighTower Advisors LLC acquired a new stake in shares of G-III Apparel Group in the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on GIII shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of G-III Apparel Group in a research report on Friday, September 4th. Zacks Research cut shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Sunday. BTIG Research reissued a "buy" rating and issued a $40.00 target price on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. Finally, KeyCorp reissued an "overweight" rating and issued a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.50.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, and related products. Its offerings include women's and men's clothing, handbags, footwear, outerwear, and other fashion products sold through department stores, specialty retailers, brand stores, and e-commerce channels.

The company owns and operates brands including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin, and develops products under a portfolio of licensed brands.

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