Man Group plc bought a new stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 60,763 shares of the textile maker’s stock, valued at approximately $2,048,000. Man Group plc owned 0.14% of G-III Apparel Group as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of G-III Apparel Group during the second quarter worth $41,000. Allworth Financial LP purchased a new position in G-III Apparel Group in the second quarter valued at about $50,000. Parallel Advisors LLC increased its position in G-III Apparel Group by 231.9% in the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,243 shares during the last quarter. Strs Ohio acquired a new position in G-III Apparel Group in the 1st quarter worth about $77,000. Finally, State of Wyoming purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $80,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GIII has been the subject of several research reports. Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. KeyCorp reaffirmed an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. BTIG Research boosted their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Wall Street Zen lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.
G-III Apparel Group Trading Down 1.3%
Shares of G-III Apparel Group stock opened at $32.17 on Wednesday. The firm has a fifty day simple moving average of $34.50 and a 200-day simple moving average of $31.89. G-III Apparel Group, LTD. has a 1-year low of $24.61 and a 1-year high of $37.54. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 11.37 and a beta of 1.27.
G-III Apparel Group (NASDAQ:GIII – Get Free Report) last posted its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. G-III Apparel Group’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. As a group, research analysts predict that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.
G-III Apparel Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. G-III Apparel Group’s payout ratio is presently 14.13%.
G-III Apparel Group Profile
G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.
The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.
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