SG Americas Securities LLC Increases Holdings in G-III Apparel Group, LTD. $GIII

Key Points

• SG Americas Securities LLC increased its stake in G-III Apparel Group by 149.8% in the first quarter, bringing its holdings to 52,390 shares valued at about $1.45 million.
• Other institutional investors also adjusted positions in the stock, and hedge funds and other institutions now own 92.13% of G-III Apparel Group shares.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus with an average target price of $33, while the company recently beat quarterly EPS and revenue estimates despite year-over-year revenue decline.

SG Americas Securities LLC raised its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 149.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,390 shares of the textile maker's stock after purchasing an additional 31,420 shares during the quarter. SG Americas Securities LLC owned about 0.12% of G-III Apparel Group worth $1,451,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GIII. Phocas Financial Corp. boosted its stake in shares of G-III Apparel Group by 77.2% in the fourth quarter. Phocas Financial Corp. now owns 244,406 shares of the textile maker's stock valued at $7,078,000 after purchasing an additional 106,497 shares during the period. AlphaQuest LLC increased its stake in G-III Apparel Group by 251.4% during the 4th quarter. AlphaQuest LLC now owns 70,278 shares of the textile maker's stock worth $2,035,000 after buying an additional 50,279 shares during the period. Medina Value Partners LLC lifted its holdings in G-III Apparel Group by 1,099.7% in the 3rd quarter. Medina Value Partners LLC now owns 682,090 shares of the textile maker's stock worth $18,150,000 after buying an additional 625,237 shares in the last quarter. American Century Companies Inc. lifted its holdings in G-III Apparel Group by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 1,730,216 shares of the textile maker's stock worth $46,041,000 after buying an additional 57,440 shares in the last quarter. Finally, Hound Partners LLC lifted its holdings in G-III Apparel Group by 280.0% in the 3rd quarter. Hound Partners LLC now owns 478,909 shares of the textile maker's stock worth $12,744,000 after buying an additional 352,869 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GIII shares. UBS Group lowered their target price on G-III Apparel Group from $30.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Zacks Research upgraded G-III Apparel Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 15th. Wall Street Zen raised G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Telsey Advisory Group restated a "market perform" rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Finally, BTIG Research raised their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.00.

G-III Apparel Group Price Performance

NASDAQ GIII opened at $33.50 on Friday. G-III Apparel Group, LTD. has a 12 month low of $22.83 and a 12 month high of $36.53. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.84 and a beta of 1.28. The company's fifty day moving average price is $32.34 and its two-hundred day moving average price is $30.49.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.09. The company had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The company's revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. As a group, analysts anticipate that G-III Apparel Group, LTD. will post 2.24 EPS for the current year.

G-III Apparel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 22nd. G-III Apparel Group's payout ratio is currently 14.13%.

G-III Apparel Group Profile

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women's and men's apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies' apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company's product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.

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