Ieq Capital LLC Acquires Shares of 48,191 G-III Apparel Group, LTD. $GIII

Ieq Capital LLC acquired a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) during the second quarter, Holdings Channel.com reports. The firm acquired 48,191 shares of the textile maker’s stock, valued at approximately $1,625,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of G-III Apparel Group during the second quarter worth $232,832,000. Dimensional Fund Advisors LP raised its stake in G-III Apparel Group by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker’s stock valued at $78,153,000 after buying an additional 15,500 shares in the last quarter. Norges Bank purchased a new stake in G-III Apparel Group during the 4th quarter worth about $36,200,000. LSV Asset Management boosted its position in shares of G-III Apparel Group by 8.1% during the 4th quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker’s stock worth $35,837,000 after acquiring an additional 93,236 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of G-III Apparel Group by 30.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock valued at $28,054,000 after acquiring an additional 247,245 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Performance

G-III Apparel Group stock opened at $33.29 on Wednesday. G-III Apparel Group, LTD. has a fifty-two week low of $24.61 and a fifty-two week high of $37.54. The company has a market capitalization of $1.40 billion, a P/E ratio of 11.76 and a beta of 1.28. The stock has a 50-day simple moving average of $34.62 and a 200-day simple moving average of $31.80.

G-III Apparel Group (NASDAQ:GIII) last announced its 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 analysts’ expectations of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior 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 forecast 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 announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 15th. G-III Apparel Group’s payout ratio is presently 14.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GIII shares. KeyCorp reissued an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Zacks Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. 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 report on Monday, June 8th. Finally, Wall Street Zen cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

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.