7,156 Shares in Gildan Activewear, Inc. (GIL) Purchased by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd acquired a new position in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,156 shares of the textile maker’s stock, valued at approximately $220,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Tobam increased its holdings in shares of Gildan Activewear by 17.0% in the second quarter. Tobam now owns 126,700 shares of the textile maker’s stock valued at $3,888,000 after purchasing an additional 18,400 shares during the period. Paloma Partners Management Co boosted its position in Gildan Activewear by 67.3% during the first quarter. Paloma Partners Management Co now owns 15,100 shares of the textile maker’s stock worth $408,000 after purchasing an additional 6,074 shares in the last quarter. Alliancebernstein L.P. boosted its position in Gildan Activewear by 59.5% during the second quarter. Alliancebernstein L.P. now owns 24,599 shares of the textile maker’s stock worth $756,000 after purchasing an additional 9,180 shares in the last quarter. AGF Investments Inc. boosted its position in Gildan Activewear by 8,373.2% during the second quarter. AGF Investments Inc. now owns 543,472 shares of the textile maker’s stock worth $16,710,000 after purchasing an additional 537,058 shares in the last quarter. Finally, Scotia Capital Inc. boosted its position in Gildan Activewear by 81.6% during the second quarter. Scotia Capital Inc. now owns 162,895 shares of the textile maker’s stock worth $5,000,000 after purchasing an additional 73,211 shares in the last quarter. 72.70% of the stock is currently owned by institutional investors and hedge funds.
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Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The company had revenue of $715.40 million during the quarter, compared to the consensus estimate of $753.85 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year.
GIL has been the topic of several research reports. Macquarie initiated coverage on Gildan Activewear in a research report on Wednesday. They issued a “neutral” rating on the stock. TD Securities cut Gildan Activewear from a “buy” rating to a “hold” rating and lifted their price objective for the company from $32.00 to $33.00 in a research note on Friday, August 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price objective (up from $32.00) on shares of Gildan Activewear in a research note on Friday, August 4th. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday, October 27th. Finally, National Bank Financial lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $35.29.
Gildan Activewear Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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