G-III Apparel Group, LTD. $GIII Shares Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its G-III Apparel Group stake by 330.4% in the second quarter, adding 64,615 shares to own 84,169 shares worth approximately $2.84 million. Hedge funds and institutional investors collectively hold 92.13% of the company.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $34.50, although some firms recently downgraded the stock or lowered their targets.
• G-III reported quarterly EPS of $0.26, beating estimates by $0.03, while revenue of $554.1 million fell 9.7% year over year and missed expectations. The company also declared a quarterly dividend of $0.10 per share, implying a 1.4% annual yield.

Engineers Gate Manager LP increased its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 330.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,169 shares of the textile maker's stock after buying an additional 64,615 shares during the quarter. Engineers Gate Manager LP owned about 0.20% of G-III Apparel Group worth $2,837,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Nykredit A S purchased a new stake in shares of G-III Apparel Group during the second quarter valued at approximately $33,000. Allworth Financial LP acquired a new stake in shares of G-III Apparel Group in the 2nd quarter valued at about $50,000. Parallel Advisors LLC lifted its holdings in shares of G-III Apparel Group by 231.9% in the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker's stock valued at $52,000 after buying an additional 1,243 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of G-III Apparel Group in the second quarter valued at $41,000. Finally, State of Wyoming bought a new position in G-III Apparel Group during the second quarter valued at about $80,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of G-III Apparel Group in a research report on Friday, September 4th. KeyCorp reaffirmed an "overweight" rating and issued a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Zacks Research downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Wall Street Zen lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Telsey Advisory Group cut their target price on shares of G-III Apparel Group from $38.00 to $32.00 and set a "market perform" rating for the company in a research note on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, G-III Apparel Group has a consensus rating of "Moderate Buy" and an average price target of $34.50.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $27.89 on Monday. G-III Apparel Group, LTD. has a twelve month low of $24.61 and a twelve month high of $37.54. The stock has a market cap of $1.20 billion, a PE ratio of 9.17 and a beta of 1.27. The firm has a 50-day simple moving average of $33.56 and a 200 day simple moving average of $31.72.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. G-III Apparel Group had a return on equity of 5.53% and a net margin of 4.75%.The firm had revenue of $554.09 million for the quarter, compared to analyst estimates of $570.37 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company's quarterly revenue was down 9.7% compared to the same quarter last year. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. Research analysts forecast that G-III Apparel Group, LTD. will post 2.25 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. G-III Apparel Group's payout ratio is 13.16%.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, and related products. Its offerings include women's and men's clothing, handbags, footwear, outerwear, and other fashion products sold through department stores, specialty retailers, brand stores, and e-commerce channels.

The company owns and operates brands including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin, and develops products under a portfolio of licensed brands.

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