Arrowstreet Capital Limited Partnership Sells 241,347 Shares of G-III Apparel Group, LTD. $GIII

Key Points

• Arrowstreet Capital reduced its G-III Apparel Group stake by 23%, selling 241,347 shares during the first quarter and retaining 808,011 shares valued at approximately $22.4 million. Institutional investors collectively own 92.13% of the company.
• G-III reported quarterly revenue of $535.96 million and an adjusted loss of $0.21 per share, beating analyst estimates, although revenue declined 8.2% year over year. The company also issued fiscal 2027 EPS guidance of $2.15 to $2.25.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $33.00, below the stock’s reported opening price of $36.50. G-III also pays a quarterly dividend of $0.10 per share, yielding about 1.1% annually.

Arrowstreet Capital Limited Partnership lessened its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 808,011 shares of the textile maker's stock after selling 241,347 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.92% of G-III Apparel Group worth $22,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in G-III Apparel Group by 107.7% in the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker's stock worth $27,000 after acquiring an additional 488 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of G-III Apparel Group during the 4th quarter valued at $34,000. Raymond James Financial Inc. bought a new stake in shares of G-III Apparel Group during the 2nd quarter valued at $41,000. Parallel Advisors LLC increased its stake in shares of 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 in the last quarter. Finally, Strs Ohio purchased a new stake in shares of G-III Apparel Group in the 1st quarter worth $77,000. Institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $36.50 on Thursday. The stock has a fifty day simple moving average of $33.98 and a two-hundred day simple moving average of $31.09. The firm has a market capitalization of $1.54 billion, a PE ratio of 12.90 and a beta of 1.28. G-III Apparel Group, LTD. has a 52-week low of $23.01 and a 52-week high of $37.00.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share 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 return on equity of 5.59% and a net margin of 4.34%.The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $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. On average, sell-side analysts forecast that G-III Apparel Group, LTD. will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. G-III Apparel Group's dividend payout ratio (DPR) is 14.13%.

Analyst Ratings Changes

A number of analysts have commented on GIII shares. Telsey Advisory Group restated a "market perform" rating and issued a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Wall Street Zen upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Zacks Research downgraded G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. KeyCorp reissued an "overweight" rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Finally, BTIG Research raised 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 note on Friday, June 5th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $33.00.

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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