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Land This Deal Even Lower Than Director Goldfarb Did

By Market News Video Staff, Thursday, January 10, 1:33 PM ET
Play Video: One Reason For Insiders to Buy

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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on January 2, G-III Apparel Group Ltd.'s Director, Jeffrey David Goldfarb, invested $101,455.50 into 3,000 shares of GIII, for a cost per share of $33.82. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Thursday, bargain hunters could buy shares of G-III Apparel Group Ltd. (NASDAQ:GIII) and achieve a cost basis even cheaper than Goldfarb, with shares changing hands as low as $33.81 per share. G-III Apparel Group Ltd. shares are currently trading off about 3.1% on the day. The chart below shows the one year performance of GIII shares, versus its 200 day moving average:

G-III Apparel Group Ltd. Chart

Looking at the chart above, GIII's low point in its 52 week range is $21.21 per share, with $39.50 as the 52 week high point that compares with a last trade of $33.97. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
01/02/2013 Jeffrey David Goldfarb Director 3,000 $33.82 $101,455.50

According to the ETF Finder at ETF Channel, GIII makes up 1.23% of the Dynamic Consumer Discretionary Sector Portfolio ETF (AMEX:PEZ) which is trading lower by about 0.7% on the day Thursday.

See what other ETFs contain GIII
See what other stocks are held by PEZ

Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial .

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