Investors Purchase High Volume of G-III Apparel Group Call Options (GIII)

G-III Apparel Group (NASDAQ:GIII) was the recipient of some unusual options trading on Thursday. Investors purchased 2,051 call options on the company. This is an increase of 858% compared to the typical volume of 214 call options.

GIII has been the subject of a number of research analyst reports. BidaskClub raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. Barclays upped their price target on G-III Apparel Group from $29.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, January 25th. KeyCorp reaffirmed a “buy” rating and issued a $45.00 price target on shares of G-III Apparel Group in a report on Thursday, January 11th. Finally, Piper Jaffray reaffirmed a “buy” rating on shares of G-III Apparel Group in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $36.82.

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Shares of NASDAQ GIII opened at $39.32 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.76 and a quick ratio of 1.91. G-III Apparel Group has a twelve month low of $18.00 and a twelve month high of $40.96. The company has a market capitalization of $1,907.84, a price-to-earnings ratio of 24.58, a PEG ratio of 1.27 and a beta of 0.21.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 22nd. The textile maker reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. G-III Apparel Group had a return on equity of 7.44% and a net margin of 2.21%. The company had revenue of $714.90 million during the quarter, compared to analysts’ expectations of $707.64 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. sell-side analysts anticipate that G-III Apparel Group will post 2.04 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $151,000. Elkfork Partners LLC purchased a new stake in G-III Apparel Group in the fourth quarter valued at approximately $156,000. Invictus RG purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $185,000. CIBC Asset Management Inc purchased a new stake in G-III Apparel Group in the fourth quarter valued at approximately $210,000. Finally, Amalgamated Bank purchased a new stake in G-III Apparel Group in the fourth quarter valued at approximately $230,000. Institutional investors own 98.30% of the company’s stock.

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G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets men's and women's apparel. It operates in two segments, Wholesale Operations and Retail Operations. The company's 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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