Quantedge Capital Pte Ltd Sells 83,000 Shares of G-III Apparel Group, LTD. $GIII

Quantedge Capital Pte Ltd decreased its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 21.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,716 shares of the textile maker’s stock after selling 83,000 shares during the period. G-III Apparel Group accounts for approximately 6.1% of Quantedge Capital Pte Ltd’s portfolio, making the stock its 3rd biggest position. Quantedge Capital Pte Ltd’s holdings in G-III Apparel Group were worth $6,624,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of G-III Apparel Group by 5,154.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock valued at $32,000 after buying an additional 1,134 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in G-III Apparel Group in the second quarter valued at approximately $28,000. Strs Ohio bought a new stake in G-III Apparel Group in the first quarter worth approximately $77,000. Traub Capital Management LLC acquired a new position in shares of G-III Apparel Group during the 2nd quarter worth $67,000. Finally, Quarry LP raised its holdings in shares of G-III Apparel Group by 176.1% during the 1st quarter. Quarry LP now owns 3,073 shares of the textile maker’s stock valued at $84,000 after purchasing an additional 1,960 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Trading Up 3.9%

Shares of GIII stock opened at $30.82 on Wednesday. The firm’s fifty day simple moving average is $27.92 and its 200 day simple moving average is $26.03. G-III Apparel Group, LTD. has a 1 year low of $20.33 and a 1 year high of $36.18. The firm has a market capitalization of $1.30 billion, a P/E ratio of 7.63 and a beta of 1.30.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 9th. The textile maker reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.30. G-III Apparel Group had a net margin of 5.84% and a return on equity of 11.53%. The business had revenue of $988.65 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $2.59 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. G-III Apparel Group has set its FY 2026 guidance at 2.800-2.900 EPS. Equities research analysts anticipate that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, December 15th.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays upped 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 report on Friday, September 5th. KeyCorp reiterated an “overweight” rating on shares of G-III Apparel Group in a report on Wednesday. UBS Group reissued a “neutral” rating and issued a $28.00 price target (up previously from $26.00) on shares of G-III Apparel Group in a research report on Thursday, December 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $30.00 price objective on shares of G-III Apparel Group in a report on Tuesday. Finally, BTIG Research lifted their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.67.

G-III Apparel Group Company Profile

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.