Wedge Capital Management L L P NC Increases Stake in G-III Apparel Group, LTD. $GIII

Key Points

• Wedge Capital Management L L P NC has increased its ownership in G-III Apparel Group by 42.2%, now holding 66,215 shares valued at approximately $1.48 million.
• Other institutional investors have also raised their stakes, with 92.13% of the stock owned by hedge funds and institutions.
• Analysts have mixed opinions on the stock, with a recent consensus rating of "Hold" and a target price of $29.60.

Wedge Capital Management L L P NC raised its holdings in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 42.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,215 shares of the textile maker's stock after buying an additional 19,658 shares during the period. Wedge Capital Management L L P NC owned about 0.15% of G-III Apparel Group worth $1,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in G-III Apparel Group by 11.1% during the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker's stock valued at $44,426,000 after buying an additional 162,904 shares during the last quarter. Millennium Management LLC increased its holdings in G-III Apparel Group by 139.3% during the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker's stock valued at $26,070,000 after buying an additional 554,933 shares during the last quarter. LSV Asset Management increased its holdings in G-III Apparel Group by 13.2% during the first quarter. LSV Asset Management now owns 846,904 shares of the textile maker's stock valued at $23,163,000 after buying an additional 98,923 shares during the last quarter. Victory Capital Management Inc. increased its holdings in G-III Apparel Group by 25.0% during the first quarter. Victory Capital Management Inc. now owns 706,288 shares of the textile maker's stock valued at $19,317,000 after buying an additional 141,290 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in G-III Apparel Group by 0.8% during the first quarter. Bridgeway Capital Management LLC now owns 619,051 shares of the textile maker's stock valued at $16,931,000 after buying an additional 4,851 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research cut shares of G-III Apparel Group from a "hold" rating to a "strong sell" rating in a report on Monday, September 8th. Telsey Advisory Group reissued a "market perform" rating and issued a $30.00 price objective (up from $27.00) on shares of G-III Apparel Group in a research note on Tuesday, September 2nd. UBS Group reduced their price objective on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research note 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 research note on Saturday, June 14th. Finally, Barclays increased their price objective on shares of G-III Apparel Group from $18.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.60.

G-III Apparel Group Stock Up 1.0%

GIII stock opened at $26.60 on Tuesday. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $36.18. The company has a fifty day simple moving average of $25.54 and a two-hundred day simple moving average of $25.33. The firm has a market capitalization of $1.12 billion, a P/E ratio of 6.58 and a beta of 1.49.

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 the consensus estimate of $0.10 by $0.15. G-III Apparel Group had a net margin of 5.84% and a return on equity of 11.53%. The business had revenue of $613.27 million during the quarter, compared to analyst estimates of $568.67 million. During the same quarter last year, the business earned $0.52 earnings per share. G-III Apparel Group's quarterly revenue 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. As a group, 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.

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