G-III Apparel Group (NASDAQ:GIII) Shares Gap Up After Insider Buying Activity

G-III Apparel Group, LTD. (NASDAQ:GIII) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $27.76, but opened at $28.91. G-III Apparel Group shares last traded at $28.44, with a volume of 92,417 shares traded.

Specifically, CEO Morris Goldfarb purchased 40,000 shares of G-III Apparel Group stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $27.94 per share, for a total transaction of $1,117,600.00. Following the completion of the transaction, the chief executive officer 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BTIG Research reiterated a “buy” rating and set a $40.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, September 2nd. KeyCorp restated an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of G-III Apparel Group in a report on Friday, September 4th. Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Telsey Advisory Group decreased their price objective on G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.50.

G-III Apparel Group Stock Performance

The company has a market capitalization of $1.22 billion, a P/E ratio of 9.34 and a beta of 1.27. The firm’s fifty day moving average is $33.32 and its 200 day moving average is $31.67.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $554.09 million during the quarter, compared to the consensus estimate of $570.37 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’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, analysts forecast that G-III Apparel Group, LTD. will post 2.25 EPS for the current year.

G-III Apparel Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date 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 payout ratio is presently 13.16%.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its position in shares of G-III Apparel Group by 2.5% during the first quarter. Illinois Municipal Retirement Fund now owns 19,758 shares of the textile maker’s stock worth $547,000 after acquiring an additional 482 shares during the last quarter. Nykredit A S bought a new stake in shares of G-III Apparel Group in the second quarter worth $33,000. DGS Capital Management LLC raised its holdings in G-III Apparel Group by 19.6% in the first quarter. DGS Capital Management LLC now owns 8,326 shares of the textile maker’s stock valued at $231,000 after acquiring an additional 1,366 shares in the last quarter. Allworth Financial LP acquired a new stake in G-III Apparel Group in the second quarter valued at $50,000. Finally, Evolve Private Wealth LLC boosted its stake in G-III Apparel Group by 8.4% during the 1st quarter. Evolve Private Wealth LLC now owns 22,812 shares of the textile maker’s stock valued at $632,000 after acquiring an additional 1,765 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

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.