Man Group plc Invests $2.05 Million in G-III Apparel Group, LTD. $GIII

Man Group plc acquired a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) in the 2nd quarter, Holdings Channel reports. The firm acquired 60,763 shares of the textile maker’s stock, valued at approximately $2,048,000.

Several other hedge funds and other institutional investors have also modified their holdings of GIII. Raymond James Financial Inc. bought a new position in G-III Apparel Group during the second quarter worth $41,000. Allworth Financial LP bought a new stake in G-III Apparel Group in the 2nd quarter valued at $50,000. Parallel Advisors LLC boosted its holdings in 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 purchasing an additional 1,243 shares during the period. Strs Ohio acquired a new stake in G-III Apparel Group in the 1st quarter worth $77,000. Finally, State of Wyoming acquired a new stake in G-III Apparel Group in the 2nd quarter worth $80,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. KeyCorp reaffirmed an “overweight” rating and issued a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. BTIG Research raised their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and an average target price of $33.00.

G-III Apparel Group Trading Down 1.3%

Shares of GIII opened at $32.17 on Wednesday. G-III Apparel Group, LTD. has a 1 year low of $24.61 and a 1 year high of $37.54. The stock has a 50 day simple moving average of $34.50 and a 200-day simple moving average of $31.89. The stock has a market cap of $1.36 billion, a PE ratio of 11.37 and a beta of 1.27.

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 return on equity of 5.59% and a net margin of 4.34%.The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. During the same quarter in the previous year, the firm earned $0.19 EPS. G-III Apparel Group’s quarterly revenue was down 8.2% on a year-over-year basis. 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. On average, sell-side analysts forecast that G-III Apparel Group, LTD. will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 15th. G-III Apparel Group’s payout ratio is currently 14.13%.

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.