Exchange Traded Concepts LLC Has $2.30 Million Stake in G-III Apparel Group, LTD. $GIII

Exchange Traded Concepts LLC raised its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 62.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 86,477 shares of the textile maker’s stock after purchasing an additional 33,365 shares during the quarter. Exchange Traded Concepts LLC owned 0.20% of G-III Apparel Group worth $2,301,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its stake in G-III Apparel Group by 139.3% during the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker’s stock valued at $26,070,000 after acquiring an additional 554,933 shares during the period. Norges Bank acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $10,366,000. Cerity Partners LLC bought a new stake in shares of G-III Apparel Group during the second quarter valued at approximately $9,313,000. Balyasny Asset Management L.P. acquired a new position in shares of G-III Apparel Group in the second quarter valued at $7,546,000. Finally, CSM Advisors LLC acquired a new position in shares of G-III Apparel Group in the second quarter valued at $3,938,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Up 0.0%

Shares of NASDAQ GIII opened at $30.27 on Friday. G-III Apparel Group, LTD. has a 1-year low of $20.33 and a 1-year high of $34.83. The company has a 50-day moving average of $28.97 and a two-hundred day moving average of $26.33. The company has a market cap of $1.28 billion, a PE ratio of 9.09 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 $1.61 by $0.29. The firm had revenue of $988.65 million for the quarter, compared to analyst estimates of $1.01 billion. G-III Apparel Group had a return on equity of 9.37% and a net margin of 4.89%.The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period last year, the company earned $2.59 EPS. G-III Apparel Group has set its FY 2026 guidance at 2.800-2.900 EPS. As a group, equities research analysts forecast that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders 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 yield of 1.3%. The ex-dividend date of this dividend is Monday, December 15th. G-III Apparel Group’s payout ratio is currently 12.01%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GIII shares. Telsey Advisory Group set a $34.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 10th. KeyCorp reiterated an “overweight” rating and set a $35.00 target price (up from $33.00) on shares of G-III Apparel Group in a research report on Wednesday, December 10th. Zacks Research raised shares of G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of G-III Apparel Group in a research note on Tuesday, October 14th. Finally, Barclays lifted their price objective on G-III Apparel Group from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and an average price target of $31.20.

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.