In a filing, G-III Apparel Group Ltd. revealed its Chief Financial Officer/Treas NACKMAN NEAL unloaded Company’s shares for reported $1.12 million on Dec 15 ’23. In the deal valued at $35.29 per share,31,762 shares were sold. As a result of this transaction, NACKMAN NEAL now holds 55,977 shares worth roughly $1.57 million.
Then, POMERANTZ LAURA H sold 10,904 shares, generating $263,986 in total proceeds. Upon selling the shares at $24.21, the Director now owns 20,166 shares.
Before that, FELLER ALAN sold 10,000 shares. G-III Apparel Group Ltd. shares valued at $240,400 were divested by the Director at a price of $24.04 per share. As a result of the transaction, FELLER ALAN now holds 29,357 shares, worth roughly $0.83 million.
Telsey Advisory Group reiterated its G-III Apparel Group Ltd. [GIII] rating to a Market perform in a research note published on March 15, 2024; the price target was $29. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early March from “an Equal weight” to “an Underweight”. Wells Fargo also remained covering GIII and has decreased its forecast on January 16, 2024 with a “an Underweight” recommendation from previously “an Equal weight” rating. Telsey Advisory Group maintained its rating on December 02, 2022. It rated GIII as “a Market perform”.
Price Performance Review of GIII
On Tuesday, G-III Apparel Group Ltd. [NASDAQ:GIII] saw its stock fall -0.71% to $28.12. Over the last five days, the stock has gained 1.41%. G-III Apparel Group Ltd. shares have fallen nearly -17.25% since the year began. Nevertheless, the stocks have risen 87.84% over the past one year. While a 52-week high of $35.68 was reached on 02/26/24, a 52-week low of $14.49 was recorded on 03/14/24. SMA at 50 days reached $29.98, while 200 days put it at $26.49. A total of 0.38 million shares were traded, compared to the trading of 0.67 million shares in the previous session.
Levels Of Support And Resistance For GIII Stock
The 24-hour chart illustrates a support level at 27.65, which if violated will result in even more drops to 27.18. On the upside, there is a resistance level at 28.69. A further resistance level may holdings at 29.26. The Relative Strength Index (RSI) on the 14-day chart is 45.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.44%. Stochastics %K at 63.20% indicates the stock is a holding.
How much short interest is there in G-III Apparel Group Ltd.?
A steep rise in short interest was recorded in G-III Apparel Group Ltd. stocks on Mar 28, 2024, dropping by -0.46 million shares to a total of 4.75 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 5.21 million shares. There was a decline of -9.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 17.18% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.39.
