G-III Apparel Group (GIII) was Smart Insider's stock pick of the week after the company's Executive Vice President Jeffrey Goldfarb bought $492,000 worth of company shares at $21.33 apiece on June 17, raising his stake by 4%.
This was "only" Goldfarb's second purchase since 2013; his first buy was for $246,000 at $12.96 apiece in December 2022, and was "perfectly timed," Smart Insider said in a Tuesday note.
"It's notable to see him now taking advantage of share price weakness since the Q1 results announcement on June 6th, to buy in larger size at this higher price," the note added.
Smart Insider ranked the stock +1, or strong positive signal.
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