Invesco Ltd. Sells 148,063 Shares of G-III Apparel Group, LTD. $GIII

Key Points

• Invesco Ltd. reduced its ownership in G-III Apparel Group by 16.5%, selling 148,063 shares during the first quarter, resulting in a total of approximately 751,892 shares.
• Insider activity saw Director Amigo Victor Herrero purchasing 5,000 shares at an average cost of $21.95, increasing his stake by 10.05%.
• Analysts have decreased their price targets for G-III Apparel Group, with Barclays cutting it from $21.00 to $18.00, while the consensus rating remains a "Hold" with an average price target of $27.80.

Invesco Ltd. trimmed its position in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 751,892 shares of the textile maker's stock after selling 148,063 shares during the quarter. Invesco Ltd. owned approximately 1.71% of G-III Apparel Group worth $20,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. LSV Asset Management raised its holdings 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 during the period. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 141,290 shares during the period. Northern Trust Corp raised its holdings in G-III Apparel Group by 21.8% in the 4th quarter. Northern Trust Corp now owns 520,931 shares of the textile maker's stock valued at $16,993,000 after acquiring an additional 93,263 shares during the period. Point72 Asset Management L.P. raised its holdings in G-III Apparel Group by 111.7% in the 4th quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker's stock valued at $12,432,000 after acquiring an additional 201,126 shares during the period. Finally, AQR Capital Management LLC raised its holdings in G-III Apparel Group by 10.5% in the 4th quarter. AQR Capital Management LLC now owns 258,728 shares of the textile maker's stock valued at $8,440,000 after acquiring an additional 24,546 shares during the period. 92.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GIII has been the topic of several research analyst reports. UBS Group lowered their price target on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Telsey Advisory Group lowered their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a report on Monday, June 9th. Barclays lowered their price target on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a 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. Finally, KeyCorp lowered their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $27.80.

G-III Apparel Group Stock Up 1.5%

Shares of GIII traded up $0.41 during mid-day trading on Wednesday, hitting $27.00. 516,040 shares of the company's stock were exchanged, compared to its average volume of 497,768. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $36.18. The stock's 50-day simple moving average is $24.08 and its 200-day simple moving average is $25.50. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 6.25 and a beta of 1.49.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The company had revenue of $583.61 million for the quarter, compared to analysts' expectations of $579.48 million. During the same period last year, the firm earned $0.12 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. G-III Apparel Group has set its Q2 2026 guidance at 0.020-0.120 EPS. FY 2026 guidance at EPS. Analysts forecast that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In other news, Director Amigo Victor Herrero acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director directly owned 54,746 shares of the company's stock, valued at $1,201,674.70. The trade was a 10.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.00% of the stock is owned by company insiders.

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.