Edgestream Partners L.P. Makes New $5.76 Million Investment in G-III Apparel Group, LTD. $GIII

Edgestream Partners L.P. bought a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) during the 1st quarter, HoldingsChannel reports. The fund bought 207,810 shares of the textile maker’s stock, valued at approximately $5,756,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in G-III Apparel Group by 107.7% in the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 488 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in G-III Apparel Group during the 4th quarter worth approximately $34,000. Raymond James Financial Inc. purchased a new position in shares of G-III Apparel Group during the 2nd quarter worth approximately $41,000. Parallel Advisors LLC lifted its holdings in shares of G-III Apparel Group by 231.9% in the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock valued at $52,000 after buying an additional 1,243 shares during the period. Finally, Strs Ohio acquired a new stake in shares of G-III Apparel Group in the 1st quarter valued at approximately $77,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIII has been the topic of a number of recent analyst reports. Wall Street Zen raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. KeyCorp reissued an “overweight” rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Zacks Research lowered 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 reaffirmed 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. Finally, BTIG Research increased their price target 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. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Price Performance

GIII opened at $36.69 on Friday. The stock’s 50 day simple moving average is $34.11 and its 200 day simple moving average is $31.14. The stock has a market cap of $1.55 billion, a P/E ratio of 12.96 and a beta of 1.28. G-III Apparel Group, LTD. has a 1-year low of $23.01 and a 1-year high of $37.00.

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

G-III Apparel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is presently 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.