Hsbc Holdings PLC Buys 29,472 Shares of G-III Apparel Group, LTD. $GIII

Key Points

• Hsbc Holdings PLC increased its holdings in G-III Apparel Group by 36.0% during Q1, now owning approximately 111,310 shares valued at $3,039,000.
• Other institutional investors were active as well, with Nuveen LLC purchasing a stake worth about $11.6 million and Point72 Asset Management lifting its holdings by 111.7%.
• G-III Apparel Group reported $0.19 earnings per share for the latest quarter, surpassing estimates, but revenue was down 4.3% year-over-year.

Hsbc Holdings PLC raised its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 36.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,310 shares of the textile maker's stock after purchasing an additional 29,472 shares during the quarter. Hsbc Holdings PLC owned approximately 0.25% of G-III Apparel Group worth $3,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in G-III Apparel Group by 11.1% during the 1st quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker's stock valued at $44,426,000 after purchasing an additional 162,904 shares during the period. LSV Asset Management increased its position in G-III Apparel Group by 13.2% during 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 during the period. Victory Capital Management Inc. increased its position in G-III Apparel Group by 25.0% during 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 during the period. Northern Trust Corp increased its position in G-III Apparel Group by 21.8% during the 4th quarter. Northern Trust Corp now owns 520,931 shares of the textile maker's stock valued at $16,993,000 after purchasing an additional 93,263 shares during the period. Finally, Nuveen LLC purchased a new position in G-III Apparel Group during the 1st quarter valued at $11,614,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp reduced their price objective on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Wall Street Zen cut shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. Barclays reduced their target price on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, June 9th. UBS Group reduced their target price on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Finally, Telsey Advisory Group reduced their target price on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a research report on Monday, June 9th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $27.80.

G-III Apparel Group Stock Down 0.3%

NASDAQ:GIII traded down $0.07 on Monday, hitting $27.00. The stock had a trading volume of 579,762 shares, compared to its average volume of 496,485. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 6.25 and a beta of 1.49. The business's 50-day simple moving average is $24.39 and its two-hundred day simple moving average is $25.38. 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 Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $583.61 million for the quarter, compared to analysts' expectations of $579.48 million. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%.The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. G-III Apparel Group has set its Q2 2026 guidance at 0.020-0.120 EPS. FY 2026 guidance at EPS. As a group, equities research analysts anticipate that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

Insider Activity at G-III Apparel Group

In related news, Director Amigo Victor Herrero acquired 5,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were purchased at an average cost of $21.95 per share, with a total value of $109,750.00. Following the transaction, the director directly owned 54,746 shares in the company, valued at approximately $1,201,674.70. This represents a 10.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.00% of the stock is owned by company insiders.

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.