Mcclain Value Management LLC Buys 24,178 Shares of Gildan Activewear Inc (NYSE:GIL)

Mcclain Value Management LLC grew its stake in shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) by 34.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,715 shares of the textile maker’s stock after acquiring an additional 24,178 shares during the period. Gildan Activewear comprises 4.2% of Mcclain Value Management LLC’s investment portfolio, making the stock its 11th biggest position. Mcclain Value Management LLC’s holdings in Gildan Activewear were worth $3,327,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Colony Group LLC grew its position in shares of Gildan Activewear by 28.3% during the 2nd quarter. Colony Group LLC now owns 414,470 shares of the textile maker’s stock valued at $16,032,000 after acquiring an additional 91,524 shares during the period. JPMorgan Chase & Co. grew its position in shares of Gildan Activewear by 72.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 832,244 shares of the textile maker’s stock valued at $31,999,000 after acquiring an additional 349,750 shares during the period. Tower Research Capital LLC TRC grew its position 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 valued at $140,000 after acquiring an additional 3,270 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Gildan Activewear by 248.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,593 shares of the textile maker’s stock valued at $7,264,000 after acquiring an additional 145,842 shares during the period. Finally, AMF Pensionsforsakring AB bought a new position in shares of Gildan Activewear during the 3rd quarter valued at approximately $6,594,000. 67.21% of the stock is owned by hedge funds and other institutional investors.

GIL has been the subject of a number of research reports. Edward Jones downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Bank of America downgraded shares of Gildan Activewear from a “buy” rating to an “underperform” rating and set a $23.00 target price for the company. in a research report on Friday, October 18th. ValuEngine downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Securities reduced their target price on shares of Gildan Activewear from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Zacks Investment Research downgraded shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.55.

GIL traded up $0.48 on Friday, hitting $27.21. The company’s stock had a trading volume of 519,129 shares, compared to its average volume of 601,983. The company’s 50 day simple moving average is $31.46 and its 200-day simple moving average is $36.16. The firm has a market cap of $5.42 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.32 and a beta of 0.78. Gildan Activewear Inc has a 12 month low of $23.45 and a 12 month high of $40.40. The company has a quick ratio of 1.61, a current ratio of 4.18 and a debt-to-equity ratio of 0.50.

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

Gildan Activewear 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.

See Also: What does EPS mean?

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

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply