Millennium Management LLC Grows Stake in G-III Apparel Group, LTD. $GIII

Millennium Management LLC lifted its position in G-III Apparel Group, LTD. (NASDAQ:GIII) by 139.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 953,185 shares of the textile maker’s stock after buying an additional 554,933 shares during the period. Millennium Management LLC owned approximately 2.17% of G-III Apparel Group worth $26,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in G-III Apparel Group by 11.1% during the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker’s stock valued at $44,426,000 after purchasing an additional 162,904 shares in the last quarter. LSV Asset Management lifted its position in G-III Apparel Group by 13.2% during the first quarter. LSV Asset Management now owns 846,904 shares of the textile maker’s stock valued at $23,163,000 after purchasing an additional 98,923 shares in the last quarter. Victory Capital Management Inc. lifted its position in G-III Apparel Group by 25.0% during the first quarter. Victory Capital Management Inc. now owns 706,288 shares of the textile maker’s stock valued at $19,317,000 after purchasing an additional 141,290 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in G-III Apparel Group by 0.8% during the first quarter. Bridgeway Capital Management LLC now owns 619,051 shares of the textile maker’s stock valued at $16,931,000 after purchasing an additional 4,851 shares in the last quarter. Finally, Bragg Financial Advisors Inc lifted its position in G-III Apparel Group by 17.7% during the first quarter. Bragg Financial Advisors Inc now owns 606,142 shares of the textile maker’s stock valued at $16,578,000 after purchasing an additional 91,134 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Up 1.8%

Shares of GIII stock opened at $27.17 on Friday. G-III Apparel Group, LTD. has a 12-month low of $20.33 and a 12-month high of $36.18. The stock’s 50-day moving average price is $25.08 and its 200-day moving average price is $25.32. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.73 and a beta of 1.49.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 4th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.15. G-III Apparel Group had a return on equity of 11.53% and a net margin of 5.84%.The firm had revenue of $613.27 million for the quarter, compared to analysts’ expectations of $568.67 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. G-III Apparel Group has set its Q3 2026 guidance at 1.430-1.630 EPS. FY 2026 guidance at 2.550-2.750 EPS. As a group, research analysts predict that G-III Apparel Group, LTD. will post 4.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amigo Victor Herrero acquired 5,000 shares of G-III Apparel Group stock in a transaction on Tuesday, June 24th. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director directly owned 54,746 shares of the company’s stock, valued at $1,201,674.70. The trade was a 10.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group lowered their target price on G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, June 9th. Telsey Advisory Group reissued a “market perform” rating and set a $30.00 price target (up from $27.00) on shares of G-III Apparel Group in a report on Tuesday, September 2nd. Wall Street Zen cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 14th. Zacks Research cut G-III Apparel Group from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Barclays raised their price target 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, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.60.

G-III Apparel Group 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.