G-III Apparel Group Ltd. (NASDAQ: GIII) stock jumped 1.73% on Friday to $25.24 against a previous-day closing price of $24.81. With 2.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Apparel Manufacturing company that operates in wider Consumer Cyclical sector, reached to the highest price of $25.99 whereas the lowest price it dropped to was $24.55. The 52-week range on GIII shows that it touched its highest point at $24.93 and its lowest point at $11.60 during that stretch. It currently has a 1-year price target of $24.67. Beta for the stock currently stands at 2.66.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GIII was up-trending over the past week, with a rise of 6.72%, but this was up by 22.05% over a month. Three-month performance surged to 26.33% while six-month performance rose 65.29%. The stock gained 58.34% in the past year, while it has gained 84.10% so far this year. A look at the trailing 12-month EPS for GIII yields -3.86 with Next year EPS estimates of 3.45. For the next quarter, that number is 2.05. This implies an EPS growth rate of -168.90% for this year and 6.55% for next year. EPS is expected to grow by 11.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -31.90%.
Float and Shares Shorts:
At present, 45.71 million GIII shares are outstanding with a float of 39.83 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.63 million, which was 7.94% higher than short shares on Jul 30, 2023. In addition to Mr. Morris Goldfarb as the firm’s Chairman & CEO, Mr. Sammy Aaron serves as its Vice Chairman & Pres.
Institutional Ownership:
Through their ownership of 93.58% of GIII’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.67% of GIII, in contrast to 46.01% held by mutual funds. Shares owned by individuals account for 25.33%. As the largest shareholder in GIII with 13.55% of the stake, BlackRock Fund Advisors holds 6,176,204 shares worth 6,176,204. A second-largest stockholder of GIII, The Vanguard Group, Inc., holds 4,505,503 shares, controlling over 9.88% of the firm’s shares. Madison Avenue Partners LP is the third largest shareholder in GIII, holding 3,914,869 shares or 8.59% stake. With a 6.35% stake in GIII, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,896,807 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.83% of GIII stock, is the second-largest Mutual Fund holder. It holds 1,290,084 shares valued at 25.61 million. Vanguard Small Cap Index Fund holds 2.21% of the stake in GIII, owning 1,005,718 shares worth 19.96 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GIII since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GIII analysts setting a high price target of $26.00 and a low target of $23.00, the average target price over the next 12 months is $24.67. Based on these targets, GIII could surge 3.01% to reach the target high and fall by -8.87% to reach the target low. Reaching the average price target will result in a decline of -2.26% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GIII stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 229,151 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 603,056 while 641,540 shares were sold.
