Cubist Systematic Strategies LLC Has $1.71 Million Stake in G-III Apparel Group, LTD. $GIII

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in G-III Apparel Group by 593.2%, owning 62,398 shares valued at $1.7 million as of the latest reporting period.
• Several hedge funds, including Quarry LP and Panagora Asset Management, also boosted their positions in G-III Apparel Group during the first quarter, indicating growing institutional interest.
• Analysts have mixed views on G-III Apparel Group, with Barclays raising its price target to $21.00 while others have issued "hold" or "neutral" ratings, reflecting varied expectations for the stock's performance.

Cubist Systematic Strategies LLC lifted its position in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 593.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,398 shares of the textile maker's stock after buying an additional 53,397 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.14% of G-III Apparel Group worth $1,707,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of G-III Apparel Group by 5,154.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker's stock valued at $32,000 after buying an additional 1,134 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of G-III Apparel Group in the 4th quarter valued at approximately $68,000. Quarry LP grew its stake in shares of G-III Apparel Group by 176.1% in the 1st quarter. Quarry LP now owns 3,073 shares of the textile maker's stock valued at $84,000 after buying an additional 1,960 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of G-III Apparel Group by 18.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after buying an additional 564 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of G-III Apparel Group in the 1st quarter valued at approximately $106,000. Institutional investors own 92.13% of the company's stock.

Insider Activity at G-III Apparel Group

In other G-III Apparel Group news, Director Amigo Victor Herrero purchased 5,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was bought at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the acquisition, the director directly owned 54,746 shares in the company, valued at $1,201,674.70. This represents a 10.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GIII has been the subject of several recent research reports. Barclays boosted their price target on G-III Apparel Group from $18.00 to $21.00 and gave the company an "underweight" rating in a research note on Friday, September 5th. Zacks Research cut G-III Apparel Group from a "hold" rating to a "strong sell" rating in a research report on Monday. UBS Group decreased their target price on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Wall Street Zen cut G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $30.00 target price (up previously from $27.00) on shares of G-III Apparel Group in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $29.60.

G-III Apparel Group Stock Down 2.2%

Shares of GIII stock traded down $0.61 during trading hours on Friday, reaching $26.56. 753,932 shares of the company's stock were exchanged, compared to its average volume of 658,970. G-III Apparel Group, LTD. has a fifty-two week low of $20.33 and a fifty-two week high of $36.18. The stock has a market capitalization of $1.12 billion, a P/E ratio of 6.57 and a beta of 1.49. The business has a fifty day moving average price of $25.15 and a 200-day moving average price of $25.32.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The textile maker reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.15. G-III Apparel Group had a return on equity of 11.53% and a net margin of 5.84%.The company had revenue of $613.27 million during the quarter, compared to analyst estimates of $568.67 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 4.9% compared to the same quarter last year. G-III Apparel Group has set its Q3 2026 guidance at 1.430-1.630 EPS. FY 2026 guidance at 2.550-2.750 EPS. As a group, research analysts expect that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.