AlphaQuest LLC Acquires 50,279 Shares of G-III Apparel Group, LTD. $GIII

Key Points

• AlphaQuest LLC increased its stake in G-III Apparel Group by 251.4% in the fourth quarter, buying an additional 50,279 shares to bring its total holding to 70,278 shares valued at about $2.0 million.
• Institutional ownership in G-III remains high, with several other hedge funds also boosting positions and 92.13% of the stock now owned by institutions.
• Analysts are mixed on the stock: the current consensus rating is Hold with an average price target of $29, while G-III recently reported weaker-than-expected quarterly earnings and revenue.

AlphaQuest LLC lifted its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 251.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,278 shares of the textile maker's stock after acquiring an additional 50,279 shares during the quarter. AlphaQuest LLC owned approximately 0.17% of G-III Apparel Group worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Medina Value Partners LLC increased its holdings in G-III Apparel Group by 1,099.7% in the third quarter. Medina Value Partners LLC now owns 682,090 shares of the textile maker's stock worth $18,150,000 after purchasing an additional 625,237 shares in the last quarter. Hound Partners LLC increased its stake in G-III Apparel Group by 280.0% in the third quarter. Hound Partners LLC now owns 478,909 shares of the textile maker's stock valued at $12,744,000 after purchasing an additional 352,869 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in G-III Apparel Group in the second quarter valued at $7,546,000. LSV Asset Management increased its stake in G-III Apparel Group by 34.7% in the third quarter. LSV Asset Management now owns 1,144,233 shares of the textile maker's stock valued at $30,448,000 after purchasing an additional 294,732 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in G-III Apparel Group by 30.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker's stock valued at $28,054,000 after purchasing an additional 247,245 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GIII shares. BTIG Research reaffirmed a "buy" rating and issued a $34.00 price target on shares of G-III Apparel Group in a research report on Wednesday, March 18th. Zacks Research raised shares of G-III Apparel Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. UBS Group reduced their price objective on shares of G-III Apparel Group from $30.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $29.00 price objective (down from $34.00) on shares of G-III Apparel Group in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.00.

G-III Apparel Group Stock Up 2.8%

G-III Apparel Group stock opened at $31.68 on Wednesday. The company has a market capitalization of $1.34 billion, a PE ratio of 21.12 and a beta of 1.30. The firm has a fifty day simple moving average of $29.30 and a two-hundred day simple moving average of $29.55. G-III Apparel Group, LTD. has a twelve month low of $20.33 and a twelve month high of $34.83.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.29). G-III Apparel Group had a return on equity of 6.70% and a net margin of 2.28%.The company had revenue of $771.49 million during the quarter, compared to the consensus estimate of $791.98 million. During the same period in the previous year, the company earned $1.27 earnings per share. G-III Apparel Group's quarterly revenue was down 8.1% on a year-over-year basis. G-III Apparel Group has set its Q1 2027 guidance at -0.400--0.300 EPS and its FY 2027 guidance at 2.000-2.100 EPS. As a group, equities analysts expect that G-III Apparel Group, LTD. will post 2.07 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 23rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, March 23rd. G-III Apparel Group's payout ratio is presently 26.67%.

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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