G-III Apparel Group, LTD. $GIII Shares Bought by CX Institutional

Key Points

• CX Institutional has increased its stake in G-III Apparel Group by 106.4%, acquiring a total of 194,065 shares valued at approximately $4.35 million.
• G-III Apparel Group's recent quarterly earnings beat expectations, reporting earnings of $0.25 per share against an estimate of $0.10, despite a 4.9% revenue decline year over year.
• The company's stock currently has a consensus rating of "Hold" among analysts, with an average target price of $29.60 per share.

CX Institutional increased its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 106.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,065 shares of the textile maker's stock after purchasing an additional 100,044 shares during the quarter. CX Institutional owned 0.45% of G-III Apparel Group worth $4,347,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GIII. American Century Companies Inc. lifted its holdings in G-III Apparel Group by 11.1% in the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker's stock valued at $44,426,000 after acquiring an additional 162,904 shares during the period. Millennium Management LLC lifted its position in G-III Apparel Group by 139.3% during the 1st quarter. Millennium Management LLC now owns 953,185 shares of the textile maker's stock worth $26,070,000 after acquiring an additional 554,933 shares in the last quarter. LSV Asset Management raised its position in shares of G-III Apparel Group by 13.2% in the 1st quarter. LSV Asset Management now owns 846,904 shares of the textile maker's stock valued at $23,163,000 after purchasing an additional 98,923 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of G-III Apparel Group by 25.0% in the 1st quarter. Victory Capital Management Inc. now owns 706,288 shares of the textile maker's stock valued at $19,317,000 after purchasing an additional 141,290 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of G-III Apparel Group by 0.8% in the 1st quarter. Bridgeway Capital Management LLC now owns 619,051 shares of the textile maker's stock valued at $16,931,000 after purchasing an additional 4,851 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their price target on G-III Apparel Group from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Zacks Research downgraded G-III Apparel Group from a "hold" rating to a "strong sell" rating in a report on Monday, September 8th. 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 report on Friday, September 5th. UBS Group lowered their price target on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, June 9th. Finally, Wall Street Zen downgraded G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $29.60.

G-III Apparel Group Trading Up 1.0%

GIII traded up $0.26 during trading on Monday, reaching $26.60. 516,457 shares of the company were exchanged, compared to its average volume of 638,989. The stock has a market cap of $1.12 billion, a P/E ratio of 6.58 and a beta of 1.49. The firm has a 50 day moving average of $25.49 and a 200 day moving average of $25.33. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.15. The company had revenue of $613.27 million during the quarter, compared to analysts' expectations of $568.67 million. G-III Apparel Group had a return on equity of 11.53% and a net margin of 5.84%.The company's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. 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, analysts forecast that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

Insider Activity at G-III Apparel Group

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

G-III Apparel Group Profile

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.