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

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

G-III Apparel Group Trading Down 0.3%

Shares of NASDAQ GIII traded down $0.07 during midday trading on Tuesday, reaching $27.76. The company’s stock had a trading volume of 816,119 shares, compared to its average volume of 548,875. The stock has a 50 day simple moving average of $33.44 and a 200-day simple moving average of $31.70. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.13 and a beta of 1.27. G-III Apparel Group, LTD. has a fifty-two week low of $24.61 and a fifty-two week high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Wednesday, September 2nd. The textile maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $554.09 million during the quarter, compared to analysts’ expectations of $570.37 million. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The firm’s revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. 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. As a group, equities analysts anticipate that G-III Apparel Group, LTD. will post 2.25 EPS for the current year.

G-III Apparel Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 15th. G-III Apparel Group’s dividend payout ratio is presently 13.16%.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of G-III Apparel Group during the second quarter worth $232,832,000. Norges Bank purchased a new position in shares of G-III Apparel Group during the 4th quarter valued at about $36,200,000. LSV Asset Management lifted its holdings in shares of G-III Apparel Group by 8.1% in the 4th quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker’s stock valued at $35,837,000 after buying an additional 93,236 shares during the period. Bank of America Corp DE acquired a new position in shares of G-III Apparel Group in the 2nd quarter valued at about $14,963,000. Finally, Bank of New York Mellon Corp acquired a new position in G-III Apparel Group in the second quarter valued at approximately $9,113,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIII has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of G-III Apparel Group in a research note on Friday, September 4th. Zacks Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. 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. KeyCorp reaffirmed an “overweight” rating and set a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Finally, Wall Street Zen cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Sunday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.50.

G-III Apparel Group Company Profile

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.