G-III Apparel Group, LTD. $GIII Holdings Reduced by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its holdings in G-III Apparel Group by 10.4%, owning approximately 2.58% of the company at the end of the 1st quarter, valued at about $30.9 million.
• Insider activity shows Director Amigo Victor Herrero purchased 5,000 shares at $21.95, increasing his position by 10.05%.
• G-III Apparel Group reported earnings of $0.25 EPS, surpassing estimates, but revenue decreased by 4.9% year-over-year, leading to a price target adjustment from several analysts.

Royal Bank of Canada cut its holdings in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,131,509 shares of the textile maker's stock after selling 131,434 shares during the period. Royal Bank of Canada owned approximately 2.58% of G-III Apparel Group worth $30,947,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its position in G-III Apparel Group by 5,154.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker's stock worth $32,000 after acquiring an additional 1,134 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in G-III Apparel Group in the fourth quarter worth about $68,000. Quarry LP grew its position in 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. DekaBank Deutsche Girozentrale acquired a new position in G-III Apparel Group during the 1st quarter valued at about $106,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of G-III Apparel Group by 18.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock worth $117,000 after buying an additional 564 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at G-III Apparel Group

In other news, Director Amigo Victor Herrero bought 5,000 shares of the firm's stock in a transaction on 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 position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 13.00% of the stock is currently owned by insiders.

G-III Apparel Group Stock Down 6.0%

Shares of NASDAQ GIII opened at $25.96 on Friday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 6.43 and a beta of 1.49. The stock's fifty day simple moving average is $24.78 and its 200 day simple moving average is $25.34. 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 announced its earnings results on Thursday, September 4th. The textile maker reported $0.25 EPS for the quarter, beating the consensus estimate of $0.10 by $0.15. G-III Apparel Group had a return on equity of 11.59% and a net margin of 5.84%.The business had revenue of $613.27 million during the quarter, compared to the consensus estimate of $568.67 million. During the same period in the prior year, the business posted $0.52 earnings per share. G-III Apparel Group's 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, analysts anticipate that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

Wall Street Analyst Weigh In

GIII has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of 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. Telsey Advisory Group reaffirmed a "market perform" rating and set a $30.00 price target (up from $27.00) on shares of G-III Apparel Group in a research note on Tuesday, September 2nd. Barclays boosted their price objective on G-III Apparel Group from $18.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday. KeyCorp upped their price objective on G-III Apparel Group from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wall Street Zen lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, G-III Apparel Group presently has an average rating of "Hold" and an average price target of $29.60.

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.

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