Oppenheimer Asset Management Inc. reduced its position in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 28.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,556 shares of the textile maker’s stock after selling 13,580 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Gildan Activewear were worth $1,227,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth Bank of Australia lifted its stake in Gildan Activewear by 28.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock valued at $99,000 after buying an additional 569 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new stake in Gildan Activewear in the 3rd quarter valued at about $98,000. Tower Research Capital LLC TRC increased its holdings in shares of Gildan Activewear by 997.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock worth $140,000 after buying an additional 3,270 shares during the last quarter. Neuburgh Advisers LLC increased its holdings in shares of Gildan Activewear by 11.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock worth $139,000 after buying an additional 384 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its holdings in shares of Gildan Activewear by 11.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 5,148 shares of the textile maker’s stock worth $191,000 after buying an additional 528 shares during the last quarter. 67.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE GIL opened at $26.73 on Friday. The company has a 50 day simple moving average of $31.46 and a 200-day simple moving average of $36.16. The company has a market capitalization of $5.47 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.18 and a quick ratio of 1.61. Gildan Activewear Inc has a 1 year low of $23.45 and a 1 year high of $40.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. The firm had revenue of $739.70 million during the quarter, compared to analysts’ expectations of $739.86 million. Gildan Activewear had a net margin of 9.87% and a return on equity of 17.94%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. As a group, research analysts expect that Gildan Activewear Inc will post 1.66 EPS for the current year.

A number of analysts have recently issued reports on the stock. Edward Jones downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday, October 21st. ValuEngine downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Bank of America downgraded shares of Gildan Activewear from a “buy” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Friday, October 18th. Desjardins upgraded shares of Gildan Activewear to a “hold” rating and set a $40.00 price target for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada cut their price target on shares of Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Gildan Activewear currently has an average rating of “Hold” and a consensus price target of $30.55.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Institutional Ownership by Quarter for Gildan Activewear (NYSE:GIL)

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