Traders Buy Large Volume of Call Options on G-III Apparel Group (NASDAQ:GIII)

G-III Apparel Group, Ltd. (NASDAQ:GIII) saw some unusual options trading activity on Tuesday. Investors purchased 5,214 call options on the stock. This represents an increase of approximately 1,115% compared to the typical daily volume of 429 call options.

Several institutional investors have recently bought and sold shares of the stock. Hillcrest Asset Management LLC increased its position in G-III Apparel Group by 0.6% during the 2nd quarter. Hillcrest Asset Management LLC now owns 214,185 shares of the textile maker’s stock valued at $6,301,000 after buying an additional 1,300 shares in the last quarter. Flinton Capital Management LLC increased its holdings in shares of G-III Apparel Group by 14.7% during the second quarter. Flinton Capital Management LLC now owns 8,064 shares of the textile maker’s stock valued at $237,000 after acquiring an additional 1,036 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of G-III Apparel Group by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,083,453 shares of the textile maker’s stock worth $31,876,000 after purchasing an additional 46,204 shares during the last quarter. First National Bank of Omaha raised its position in shares of G-III Apparel Group by 24.0% in the 3rd quarter. First National Bank of Omaha now owns 37,290 shares of the textile maker’s stock worth $961,000 after purchasing an additional 7,220 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in G-III Apparel Group by 9.6% in the 2nd quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock worth $201,268,000 after purchasing an additional 599,647 shares in the last quarter. Institutional investors own 99.74% of the company’s stock.

A number of equities analysts recently issued reports on GIII shares. B. Riley lowered their price objective on shares of G-III Apparel Group from $37.00 to $33.00 and set a “buy” rating for the company in a report on Friday, September 6th. Zacks Investment Research raised G-III Apparel Group from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research report on Wednesday, November 6th. Telsey Advisory Group downgraded G-III Apparel Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $34.00 to $20.00 in a report on Tuesday, September 3rd. BidaskClub raised G-III Apparel Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC lowered their target price on G-III Apparel Group from $47.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. G-III Apparel Group currently has a consensus rating of “Hold” and a consensus price target of $28.30.

Shares of G-III Apparel Group stock opened at $28.51 on Wednesday. G-III Apparel Group has a 1 year low of $18.18 and a 1 year high of $43.98. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 1.26 and a beta of 1.55. The company has a 50-day moving average of $27.62 and a 200 day moving average of $26.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.08 and a quick ratio of 0.88.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $643.90 million for the quarter, compared to analyst estimates of $656.16 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.37%. G-III Apparel Group’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, equities analysts anticipate that G-III Apparel Group will post 3.19 EPS for the current year.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates in 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.

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