Panagora Asset Management Inc. Acquires 79,955 Shares of G-III Apparel Group, LTD. $GIII

Key Points

• Panagora Asset Management Inc. increased its stake in G-III Apparel Group by 223.0% in the first quarter, acquiring an additional 79,955 shares, bringing its total to 115,805 shares worth approximately $3.17 million.
• Several institutional investors also raised their positions in G-III Apparel Group, with 92.13% of the company's stock currently owned by these entities, indicating strong institutional confidence.
• Analysts have lowered their price targets on G-III Apparel Group, with a consensus target of $27.80 and ratings varying from "Buy" to "Sell," reflecting mixed sentiments about the stock's future performance.

Panagora Asset Management Inc. raised its holdings in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 223.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,805 shares of the textile maker's stock after purchasing an additional 79,955 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.26% of G-III Apparel Group worth $3,167,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vident Advisory LLC raised its position in G-III Apparel Group by 7.3% in the 1st quarter. Vident Advisory LLC now owns 17,184 shares of the textile maker's stock valued at $470,000 after purchasing an additional 1,166 shares during the last quarter. Magnetar Financial LLC bought a new position in G-III Apparel Group in the 1st quarter valued at $411,000. Virtus Advisers LLC bought a new position in G-III Apparel Group in the 1st quarter valued at $225,000. Jump Financial LLC bought a new position in G-III Apparel Group in the 1st quarter valued at $878,000. Finally, AlphaQuest LLC raised its position in G-III Apparel Group by 571.7% in the 1st quarter. AlphaQuest LLC now owns 10,095 shares of the textile maker's stock valued at $276,000 after purchasing an additional 8,592 shares during the last quarter. Institutional investors own 92.13% of the company's stock.

Insider Buying and Selling

In related news, Director Amigo Victor Herrero acquired 5,000 shares of the company's stock in a transaction that occurred on 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 completion of the acquisition, the director owned 54,746 shares of the company's stock, valued at $1,201,674.70. This trade represents a 10.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 13.00% of the company's stock.

Wall Street Analyst Weigh In

GIII has been the subject of a number of recent research reports. UBS Group dropped their target price on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. KeyCorp boosted their target price on G-III Apparel Group from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday. Wall Street Zen downgraded G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. Barclays boosted their target price on G-III Apparel Group from $18.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday. Finally, Telsey Advisory Group restated a "market perform" rating and set a $30.00 target price (up previously from $27.00) on shares of G-III Apparel Group in a research report on Tuesday. 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 company's stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of "Hold" and an average price target of $29.60.

G-III Apparel Group Stock Down 6.0%

NASDAQ GIII traded down $1.67 on Friday, reaching $25.96. The company had a trading volume of 1,154,002 shares, compared to its average volume of 541,699. The stock's 50 day moving average is $24.78 and its 200-day moving average is $25.37. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 6.43 and a beta of 1.49. 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 released its quarterly earnings data on Thursday, September 4th. The textile maker reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.15. The business had revenue of $613.27 million during the quarter, compared to the consensus estimate of $568.67 million. G-III Apparel Group had a return on equity of 11.59% and a net margin of 5.84%.The firm's revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. 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. As a group, analysts forecast that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

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.