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

G-III Apparel Group, LTD. (NASDAQ:GIII)’s stock price gapped up before the market opened 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 trading hands.

Specifically, CEO Morris Goldfarb purchased 40,000 shares of G-III Apparel Group stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $27.94 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

GIII has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Sunday. BTIG Research reiterated a “buy” rating and set a $40.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of G-III Apparel Group in a research report on Friday, September 4th. Telsey Advisory Group dropped 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 note on Thursday, September 3rd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.50.

G-III Apparel Group Price Performance

The firm has a market capitalization of $1.22 billion, a PE ratio of 9.34 and a beta of 1.27. The firm has a fifty day moving average price of $33.32 and a 200 day moving average price of $31.67.

G-III Apparel Group (NASDAQ:GIII) last posted 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 return on equity of 5.53% and a net margin of 4.75%.The firm had revenue of $554.09 million for the quarter, compared to the consensus estimate of $570.37 million. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s revenue for the quarter 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, sell-side analysts expect that G-III Apparel Group, LTD. will post 2.25 EPS for the current year.

G-III Apparel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given 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 payout ratio is presently 13.16%.

Institutional Trading of G-III Apparel Group

Hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP boosted its holdings in shares of G-III Apparel Group by 330.4% during the second quarter. Engineers Gate Manager LP now owns 84,169 shares of the textile maker’s stock worth $2,837,000 after purchasing an additional 64,615 shares during the period. Baird Financial Group Inc. boosted its stake in shares of G-III Apparel Group by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 266,791 shares of the textile maker’s stock valued at $8,994,000 after buying an additional 20,848 shares during the period. Nykredit A S acquired a new stake in shares of G-III Apparel Group during the 2nd quarter valued at $33,000. Amundi purchased a new position in shares of G-III Apparel Group during the 2nd quarter valued at $344,000. Finally, HighTower Advisors LLC acquired a new position in shares of G-III Apparel Group in the second quarter worth $209,000. Hedge funds and other 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.