G-III Apparel Group, LTD. (NASDAQ:GIII) saw a large decrease in short interest in September. As of September 29th, there was short interest totalling 5,661,293 shares, a decrease of 41.5% from the September 15th total of 9,673,760 shares. Based on an average daily volume of 680,287 shares, the short-interest ratio is currently 8.3 days. Approximately 14.2% of the company’s stock are short sold.

In related news, COO Wayne S. Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the sale, the chief operating officer now directly owns 269,531 shares of the company’s stock, valued at approximately $7,967,336.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan Feller sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $29.22, for a total value of $58,440.00. Following the sale, the director now directly owns 20,609 shares in the company, valued at $602,194.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,000 shares of company stock worth $1,682,990. 9.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of G-III Apparel Group, LTD. by 19,882.5% during the first quarter. BlackRock Inc. now owns 5,643,064 shares of the textile maker’s stock worth $123,528,000 after acquiring an additional 5,614,824 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of G-III Apparel Group, LTD. by 74.7% during the second quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock worth $139,077,000 after acquiring an additional 2,383,043 shares during the last quarter. Vanguard Group Inc. raised its position in shares of G-III Apparel Group, LTD. by 0.6% during the second quarter. Vanguard Group Inc. now owns 3,632,380 shares of the textile maker’s stock worth $90,628,000 after acquiring an additional 21,050 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of G-III Apparel Group, LTD. by 45.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock worth $72,478,000 after acquiring an additional 907,701 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in shares of G-III Apparel Group, LTD. by 9.4% during the second quarter. Aberdeen Asset Management PLC UK now owns 1,933,086 shares of the textile maker’s stock worth $48,231,000 after acquiring an additional 166,857 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Several equities research analysts recently issued reports on the company. Buckingham Research reissued a “buy” rating and set a $28.00 price target on shares of G-III Apparel Group, LTD. in a research report on Monday, July 17th. BidaskClub raised G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Cowen and Company set a $23.00 price target on G-III Apparel Group, LTD. and gave the company a “hold” rating in a research report on Monday, August 14th. FBR & Co reissued an “outperform” rating and set a $33.00 price target on shares of G-III Apparel Group, LTD. in a research report on Tuesday, July 11th. Finally, ValuEngine raised G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.91.

G-III Apparel Group, LTD. (GIII) opened at 26.03 on Friday. The stock has a 50 day moving average price of $28.45 and a 200 day moving average price of $24.88. The company has a market cap of $1.27 billion, a PE ratio of 39.56 and a beta of 0.23. G-III Apparel Group, LTD. has a 1-year low of $18.00 and a 1-year high of $32.98.

G-III Apparel Group, LTD. (NASDAQ:GIII) last issued its quarterly earnings data on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.11. G-III Apparel Group, LTD. had a return on equity of 4.65% and a net margin of 1.23%. The firm had revenue of $538.00 million during the quarter, compared to the consensus estimate of $522.45 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. Equities analysts forecast that G-III Apparel Group, LTD. will post $1.35 earnings per share for the current year.

WARNING: “G-III Apparel Group, LTD. (GIII) Short Interest Down 41.5% in September” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another domain, it was stolen and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/10/13/g-iii-apparel-group-ltd-giii-short-interest-down-41-5-in-september.html.

G-III Apparel Group, LTD. Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

Receive News & Ratings for G-III Apparel Group LTD. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group LTD. and related companies with MarketBeat.com's FREE daily email newsletter.