North Point Portfolio Managers Corpoh Lowers stake in Gildan Activewear Inc (USA) (GIL)

Gildan Activewear Inc (USA) (GIL) : North Point Portfolio Managers Corpoh reduced its stake in Gildan Activewear Inc (USA) by 1.75% during the most recent quarter end. The investment management company now holds a total of 518,719 shares of Gildan Activewear Inc (USA) which is valued at $16,111,412 after selling 9,244 shares in Gildan Activewear Inc (USA) , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Gildan Activewear Inc (USA) makes up approximately 3.10% of North Point Portfolio Managers Corpoh’s portfolio.

Gildan Activewear Inc (USA) opened for trading at $31.2 and hit $31.41 on the upside on Monday, eventually ending the session at $31.27, with a gain of 0.68% or 0.21 points. The heightened volatility saw the trading volume jump to 8,99,405 shares. Company has a market cap of $7,578 M.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa added GIL to its portfolio by purchasing 338,844 company shares during the most recent quarter which is valued at $10,372,015. Gildan Activewear Inc (USA) makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio. Daiwa Sb Investments Ltd. sold out all of its stake in GIL during the most recent quarter. The investment firm sold 28,420 shares of GIL which is valued $867,378.Capstone Asset Management Co reduced its stake in GIL by selling 6,870 shares or 11.32% in the most recent quarter. The Hedge Fund company now holds 53,843 shares of GIL which is valued at $1,643,288. Gildan Activewear Inc (USA) makes up approx 0.05% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, Gildan Activewear Inc (USA) reported $0.28 EPS for the quarter, based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $543.80 million for the quarter, compared to analysts expectations of $502.04 million. The company’s revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.31 EPS.

Many Wall Street Analysts have commented on Gildan Activewear Inc (USA). Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .Shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Outperform” and Lowered the Price Target to $ 30 from a previous price target of $33 .Shares were Reiterated by Stifel on Feb 25, 2016 to “Buy” and Lowered the Price Target to $ 32 from a previous price target of $36 .

Gildan Activewear Inc. (Gildan) supplies branded basic family apparel including T-shirts fleece sport shirts underwear socks hosiery and shapewear. The Company markets its products under a diversified portfolio of Company-owned brands including the Gildan Gold Toe Anvil brands and brand extensions Secret Silks Therapy Plus and Kushyfoo as well as under licensing arrangements for the Under Armour Mossy Oak and New Balance brands. It operates in two segments Printwear and Branded Apparel. The Company owns and operates manufacturing facilities which are primarily located in Central America and the Caribbean Basin. The Company manufactures and sells apparel products in the United States Canada Europe and the Asia-Pacific region.

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