Nuveen LLC Purchases New Shares in G-III Apparel Group, LTD. $GIII

Key Points

• Nuveen LLC has invested approximately $11.61 million in G-III Apparel Group, acquiring 424,642 shares of the company during the first quarter, representing 0.97% of the firm's total shares.
• G-III Apparel Group reported earnings of $0.19 per share for the last quarter, surpassing analysts' expectations and generating revenues of $583.61 million, although this represents a 4.3% decline year-over-year.
• A recent analyst review saw G-III's ratings adjusted downwards, including Barclays lowering its price target to $18.00 and several firms issuing 'hold' or 'underweight' ratings.

Nuveen LLC purchased a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 424,642 shares of the textile maker's stock, valued at approximately $11,614,000. Nuveen LLC owned 0.97% of G-III Apparel Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GIII. Wells Fargo & Company MN raised its stake in shares of G-III Apparel Group by 17.7% in the 4th quarter. Wells Fargo & Company MN now owns 29,147 shares of the textile maker's stock valued at $951,000 after acquiring an additional 4,391 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of G-III Apparel Group by 18.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,354 shares of the textile maker's stock valued at $436,000 after purchasing an additional 2,079 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of G-III Apparel Group in the fourth quarter valued at approximately $5,428,000. First Trust Advisors LP grew its holdings in shares of G-III Apparel Group by 65.5% in the fourth quarter. First Trust Advisors LP now owns 143,942 shares of the textile maker's stock valued at $4,695,000 after purchasing an additional 56,950 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of G-III Apparel Group by 101.0% in the fourth quarter. Hsbc Holdings PLC now owns 81,838 shares of the textile maker's stock valued at $2,686,000 after purchasing an additional 41,118 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Amigo Victor Herrero bought 5,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was acquired at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director owned 54,746 shares in the company, valued at approximately $1,201,674.70. This represents a 10.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Telsey Advisory Group dropped their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company 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. Barclays dropped their price objective on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, June 9th. UBS Group dropped 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 report on Monday, June 9th. Finally, 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 report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.80.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock traded down $0.25 during trading hours on Thursday, hitting $26.75. The company had a trading volume of 32,764 shares, compared to its average volume of 617,258. The company's 50-day moving average is $24.08 and its two-hundred day moving average is $25.50. G-III Apparel Group, LTD. has a twelve month low of $20.33 and a twelve month high of $36.18. The company has a market cap of $1.16 billion, a P/E ratio of 6.19 and a beta of 1.49.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $583.61 million during the quarter, compared to analysts' expectations of $579.48 million. During the same quarter in the prior year, the business posted $0.12 EPS. The company'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. Sell-side analysts expect that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

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.