G-III Apparel Group (NASDAQ:GIII) Shares Down 4.3% – Time to Sell?

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) fell 4.3% during mid-day trading on Wednesday . The company traded as low as $33.23 and last traded at $33.37. 33,387 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 558,704 shares. The stock had previously closed at $34.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KeyCorp lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays lifted their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Telsey Advisory Group restated a “market perform” rating and set a $32.00 price objective on shares of G-III Apparel Group in a research report on Tuesday. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Finally, Guggenheim raised their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.83.

G-III Apparel Group Price Performance

The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average is $30.73 and its two-hundred day moving average is $28.68. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 8.78 and a beta of 2.14.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $2.78 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the sale, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Several large investors have recently bought and sold shares of the stock. CWM LLC grew its position in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares in the last quarter. SG Americas Securities LLC increased its position in shares of G-III Apparel Group by 162.2% in the 2nd quarter. SG Americas Securities LLC now owns 95,308 shares of the textile maker’s stock valued at $2,580,000 after purchasing an additional 58,959 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of G-III Apparel Group in the 2nd quarter valued at $257,000. SummerHaven Investment Management LLC raised its holdings in shares of G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 516 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth $6,796,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Company Profile

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.