GSA Capital Partners LLP Invests $1.14 Million in G-III Apparel Group, LTD. $GIII

GSA Capital Partners LLP purchased a new stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,898 shares of the textile maker’s stock, valued at approximately $1,143,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in G-III Apparel Group by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker’s stock worth $78,153,000 after buying an additional 15,500 shares in the last quarter. Norges Bank bought a new position in G-III Apparel Group in the fourth quarter valued at about $36,200,000. LSV Asset Management increased its position in G-III Apparel Group by 8.1% in the fourth quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker’s stock worth $35,837,000 after purchasing an additional 93,236 shares during the period. Arrowstreet Capital Limited Partnership increased its position in G-III Apparel Group by 30.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock worth $28,054,000 after purchasing an additional 247,245 shares during the period. Finally, AQR Capital Management LLC increased its position in G-III Apparel Group by 19.5% in the fourth quarter. AQR Capital Management LLC now owns 772,319 shares of the textile maker’s stock worth $22,366,000 after purchasing an additional 125,942 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Stock Down 0.4%

Shares of GIII stock opened at $33.77 on Tuesday. G-III Apparel Group, LTD. has a 12-month low of $24.61 and a 12-month high of $37.54. The firm has a fifty day moving average of $34.76 and a 200-day moving average of $31.62. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.93 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $535.96 million for 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 revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $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. Research analysts expect that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current year.

G-III Apparel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 22nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. G-III Apparel Group’s dividend payout ratio (DPR) is currently 14.13%.

Analyst Upgrades and Downgrades

GIII has been the topic of a number of research reports. Zacks Research downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. BTIG Research increased their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Finally, Wall Street Zen cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Company 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.