G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Update

G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) saw a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 3,090,000 shares, a growth of 6.6% from the December 15th total of 2,900,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 2.6 days. Approximately 7.5% of the company’s stock are short sold.

Insider Activity

In other G-III Apparel Group news, Director Amigo Victor Herrero bought 10,270 shares of the company’s stock in a transaction dated Monday, December 5th. The shares were bought at an average price of $12.20 per share, for a total transaction of $125,294.00. Following the acquisition, the director now directly owns 32,485 shares of the company’s stock, valued at $396,317. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Amigo Victor Herrero acquired 10,270 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $125,294.00. Following the completion of the acquisition, the director now owns 32,485 shares of the company’s stock, valued at approximately $396,317. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Morris Goldfarb acquired 250,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average price of $12.54 per share, for a total transaction of $3,135,000.00. Following the acquisition, the chief executive officer now directly owns 2,094,964 shares of the company’s stock, valued at approximately $26,270,848.56. The disclosure for this purchase can be found here. Insiders have acquired 279,270 shares of company stock worth $3,506,534 in the last 90 days. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System bought a new position in G-III Apparel Group in the fourth quarter worth $242,000. Penn Capital Management Company LLC bought a new position in G-III Apparel Group in the third quarter worth $2,321,000. Bank of New York Mellon Corp lifted its position in G-III Apparel Group by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 488,494 shares of the textile maker’s stock worth $7,302,000 after purchasing an additional 18,078 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in G-III Apparel Group in the third quarter worth $121,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in G-III Apparel Group in the third quarter worth $218,000. 88.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GIII shares. KeyCorp dropped their price objective on G-III Apparel Group from $27.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, December 2nd. Piper Sandler decreased their target price on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, December 21st. StockNews.com cut G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 1st. Barclays decreased their target price on G-III Apparel Group from $18.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 6th. Finally, UBS Group decreased their target price on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, December 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.00.

G-III Apparel Group Stock Down 3.0 %

GIII opened at $15.71 on Wednesday. G-III Apparel Group has a 1-year low of $11.60 and a 1-year high of $31.70. The company has a current ratio of 3.09, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $746.05 million, a price-to-earnings ratio of 4.36, a P/E/G ratio of 0.35 and a beta of 2.58. The business has a 50 day moving average of $15.64 and a 200-day moving average of $18.14.

G-III Apparel Group (NASDAQ:GIII – Get Rating) last posted its quarterly earnings data on Wednesday, November 30th. The textile maker reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.50). G-III Apparel Group had a net margin of 5.66% and a return on equity of 10.70%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, sell-side analysts anticipate that G-III Apparel Group will post 2.93 earnings per share for the current year.

G-III Apparel Group Company Profile

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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.