G-III Apparel Group, LTD. $GIII Shares Sold by CastleKnight Management LP

CastleKnight Management LP lowered its stake in G-III Apparel Group, LTD. (NASDAQ:GIII) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,442 shares of the textile maker’s stock after selling 15,100 shares during the period. CastleKnight Management LP’s holdings in G-III Apparel Group were worth $5,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GIII. Norges Bank acquired a new stake in G-III Apparel Group in the 4th quarter valued at about $36,200,000. Medina Value Partners LLC raised its position 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 valued at $18,150,000 after purchasing an additional 625,237 shares in the last quarter. Hound Partners LLC raised its position 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 valued at $12,744,000 after purchasing an additional 352,869 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in G-III Apparel Group in the 2nd quarter valued at about $7,546,000. Finally, Barclays PLC raised its position in G-III Apparel Group by 54.0% in the 4th quarter. Barclays PLC now owns 717,607 shares of the textile maker’s stock valued at $20,782,000 after purchasing an additional 251,502 shares in 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 analyst reports. BTIG Research increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 5th. KeyCorp reaffirmed an “overweight” rating and issued a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. UBS Group cut their target price on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Telsey Advisory Group restated a “market perform” rating and set a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Finally, Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

G-III Apparel Group Stock Down 2.3%

Shares of GIII opened at $34.05 on Thursday. The stock has a 50 day moving average price of $31.40 and a 200 day moving average price of $30.18. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.03 and a beta of 1.29. G-III Apparel Group, LTD. has a 52-week low of $21.10 and a 52-week high of $36.53.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The firm had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. 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. On average, equities analysts anticipate that G-III Apparel Group, LTD. will post 2.23 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors 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 dividend payout ratio is 14.13%.

About G-III Apparel Group

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.