Profit Investment Management LLC Sells 23,922 Shares of G-III Apparel Group, LTD. $GIII

Key Points

• Profit Investment Management LLC reduced its stake in G-III Apparel Group by 19.2%, holding approximately 100,965 shares valued at $2.26 million, which makes up 2.0% of its portfolio.
• G-III Apparel Group reported an EPS of $0.25 for the latest quarter, exceeding expectations of $0.10, with revenue of $613.27 million compared to a forecast of $568.67 million.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a target price of $29.60, while 92.13% of the shares are owned by institutional investors.

Profit Investment Management LLC lowered its holdings in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,965 shares of the textile maker's stock after selling 23,922 shares during the quarter. G-III Apparel Group accounts for about 2.0% of Profit Investment Management LLC's portfolio, making the stock its 15th biggest position. Profit Investment Management LLC owned about 0.23% of G-III Apparel Group worth $2,262,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GIII. Byrne Asset Management LLC acquired a new stake in shares of G-III Apparel Group during the second quarter worth about $28,000. Caitong International Asset Management Co. Ltd raised its position 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 last quarter. Public Employees Retirement System of Ohio acquired a new stake in G-III Apparel Group in the 4th quarter valued at approximately $68,000. Strs Ohio acquired a new stake in G-III Apparel Group in the 1st quarter valued at approximately $77,000. Finally, Quarry LP raised its position in G-III Apparel Group by 176.1% in the 1st quarter. Quarry LP now owns 3,073 shares of the textile maker's stock valued at $84,000 after buying an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

GIII has been the topic of a number of recent research reports. Zacks Research lowered G-III Apparel Group from a "hold" rating to a "strong sell" rating in a research report on Monday, September 8th. Wall Street Zen lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. Barclays lifted their target price on G-III Apparel Group from $18.00 to $21.00 and gave the company an "underweight" rating in a research report on Friday, September 5th. KeyCorp lifted their target price on G-III Apparel Group from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, UBS Group lowered their price target on 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. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $29.60.

G-III Apparel Group Stock Up 1.0%

Shares of NASDAQ GIII traded up $0.26 during midday trading on Tuesday, hitting $26.86. 131,259 shares of the company's stock were exchanged, compared to its average volume of 636,104. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $36.18. The company's 50 day moving average price is $25.54 and its 200 day moving average price is $25.33. The firm has a market capitalization of $1.13 billion, a PE ratio of 6.64 and a beta of 1.49.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Thursday, September 4th. The textile maker reported $0.25 EPS for the quarter, topping the consensus estimate 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 company had revenue of $613.27 million during the quarter, compared to the consensus estimate of $568.67 million. During the same period in the previous year, the company posted $0.52 EPS. The firm's revenue for the quarter was down 4.9% compared to the same quarter last year. 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. On average, equities research analysts anticipate 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.