G-III Apparel Group, LTD. $GIII Shares Acquired by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in G-III Apparel Group by 139.3% during Q1, owning approximately 2.17% of the company valued at $26.07 million.
• G-III Apparel Group reported earnings of $0.25 per share, exceeding expectations and showing a 4.9% decrease in revenue year-over-year, totaling $613.27 million.
• Currently, 92.13% of G-III's stock is held by institutional investors, highlighting strong confidence in the company among major financial entities.

Millennium Management LLC lifted its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 139.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 953,185 shares of the textile maker's stock after acquiring an additional 554,933 shares during the period. Millennium Management LLC owned 2.17% of G-III Apparel Group worth $26,070,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in G-III Apparel Group by 5,154.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker's stock valued at $32,000 after buying an additional 1,134 shares during the period. Public Employees Retirement System of Ohio bought a new stake in G-III Apparel Group in the fourth quarter valued at $68,000. Quarry LP grew its stake in G-III Apparel Group by 176.1% during the first quarter. Quarry LP now owns 3,073 shares of the textile maker's stock worth $84,000 after buying an additional 1,960 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in G-III Apparel Group by 18.6% during the fourth 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 during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in G-III Apparel Group during the 1st quarter worth about $106,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Price Performance

NASDAQ:GIII traded up $0.25 during trading hours on Wednesday, hitting $27.43. The company had a trading volume of 47,067 shares, compared to its average volume of 632,357. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $36.18. The stock has a 50-day moving average price of $25.29 and a 200 day moving average price of $25.32. The company has a market capitalization of $1.16 billion, a PE ratio of 6.81 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

GIII has been the topic of a number of recent research reports. UBS Group reduced their price objective on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Wall Street Zen lowered shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. Telsey Advisory Group restated a "market perform" rating and issued a $30.00 price target (up previously from $27.00) on shares of G-III Apparel Group in a research note on Tuesday, September 2nd. Barclays increased their price target on shares of G-III Apparel Group from $18.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, September 5th. Finally, KeyCorp increased their price objective on G-III Apparel Group from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $29.60.

Insider Activity at G-III Apparel Group

In other news, Director Amigo Victor Herrero acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were bought at an average price 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 in the company, valued at $1,201,674.70. This trade represents a 10.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.00% of the company's stock.

G-III Apparel Group Company 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.