Bridgeway Capital Management LLC Decreases Position in G-III Apparel Group, LTD. $GIII

Bridgeway Capital Management LLC lowered its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 15.8% in the 4th quarter, HoldingsChannel reports. The firm owned 452,693 shares of the textile maker’s stock after selling 84,797 shares during the quarter. Bridgeway Capital Management LLC’s holdings in G-III Apparel Group were worth $13,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of G-III Apparel Group by 107.7% during the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock worth $27,000 after purchasing an additional 488 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of G-III Apparel Group by 105.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after purchasing an additional 591 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $34,000. Parallel Advisors LLC increased its stake in shares of G-III Apparel Group by 231.9% during the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Down 2.3%

GIII opened at $34.05 on Thursday. The company has a 50 day moving average of $31.40 and a 200 day moving average of $30.18. The company has a market cap of $1.44 billion, a PE ratio of 12.03 and a beta of 1.29. G-III Apparel Group, LTD. has a 12 month low of $21.10 and a 12 month 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) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The firm had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. During the same period last year, the firm earned $0.19 EPS. The business’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 forecast that G-III Apparel Group, LTD. will post 2.23 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend 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 (DPR) is presently 14.13%.

Analysts Set New Price Targets

Several research analysts recently commented on GIII shares. UBS Group cut their price objective on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. 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. Zacks Research raised shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a report on Monday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, G-III Apparel Group has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.