Fri Sep 20 14:07:53 UTC 2024: ## Institutional Investors Show Strong Interest in Gildan Activewear

**New York, NY** – SYSTM Wealth Solutions LLC significantly increased its stake in Gildan Activewear Inc. (NYSE: GIL) during the second quarter, according to HoldingsChannel reports. The firm now owns over 2,700 shares of the textile maker, reflecting a 33.1% growth in their investment. This move follows a similar trend among other institutional investors who also adjusted their holdings of GIL during the quarter.

Dimensional Fund Advisors LP, Envestnet Asset Management Inc., Zions Bancorporation N.A., and Forsta AP Fonden all expanded their positions in Gildan Activewear. American Century Companies Inc. also saw a substantial growth in their stake, increasing their holdings by 43.9%. In total, hedge funds and institutional investors now own a significant 82.83% of the company’s stock.

Gildan Activewear’s stock opened at $46.31 on Friday, with a market capitalization of $7.67 billion. The company has a healthy financial profile, boasting a strong current ratio and quick ratio, indicating sound liquidity. Several analysts remain optimistic about the company’s future, with Stifel Nicolaus, Royal Bank of Canada, and BMO Capital Markets all raising their price targets and issuing positive ratings.

Despite recent bullish sentiment, analysts remain divided on the company’s outlook. While ten analysts have assigned a “buy” rating to GIL, four maintain a “hold” rating. MarketBeat currently ranks the stock as a “Moderate Buy” with an average price target of $44.50.

Gildan Activewear Inc. is a leading manufacturer and distributor of apparel products, offering a diverse range of activewear, T-shirts, and other apparel under popular brands like Gildan and Comfort Colors. The company’s strong financial performance and positive analyst outlook suggest continued growth potential in the textile industry.

Read More