Gildan Activewear Inc (USA) (NYSE:GIL): Hedge Funds and Insiders Are Bearish, What Should You Do?

Is Gildan Activewear Inc (USA) (NYSE:GIL) the right pick for your portfolio? Hedge funds are in a pessimistic mood. The number of long hedge fund positions stayed the same which is a slightly negative development in our experience

Gildan Activewear Inc (USA) (NYSE:GIL)

To the average investor, there are many metrics shareholders can use to track stocks. A duo of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite money managers can beat the S&P 500 by a superb margin (see just how much).

Equally as key, optimistic insider trading activity is a second way to parse down the world of equities. Just as you’d expect, there are lots of stimuli for an insider to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Various empirical studies have demonstrated the valuable potential of this method if piggybackers know where to look (learn more here).

Consequently, we’re going to take a peek at the recent action surrounding Gildan Activewear Inc (USA) (NYSE:GIL).

What have hedge funds been doing with Gildan Activewear Inc (USA) (NYSE:GIL)?

At the end of the fourth quarter, a total of 18 of the hedge funds we track were long in this stock, a change of 0% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes substantially.

Of the funds we track, Alexander Mitchell’s Scopus Asset Management had the biggest position in Gildan Activewear Inc (USA) (NYSE:GIL), worth close to $54 million, accounting for 1.8% of its total 13F portfolio. On Scopus Asset Management’s heels is Chuck Royce of Royce & Associates, with a $44 million position; 0.2% of its 13F portfolio is allocated to the stock. Other hedgies that are bullish include David Keidan’s Buckingham Capital Management, Jim Simons’s Renaissance Technologies and Gregg J. Powers’s Private Capital Management.

Judging by the fact that Gildan Activewear Inc (USA) (NYSE:GIL) has experienced declining sentiment from the entirety of the hedge funds we track, logic holds that there was a specific group of hedgies that decided to sell off their full holdings heading into 2013. At the top of the heap, Meryl Witmer’s Eagle Value Partners dropped the biggest investment of all the hedgies we monitor, comprising about $14 million in stock., and Andrew Feldstein and Stephen Siderow of Blue Mountain Capital was right behind this move, as the fund said goodbye to about $13 million worth. These bearish behaviors are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

What do corporate executives and insiders think about Gildan Activewear Inc (USA) (NYSE:GIL)?

Insider purchases made by high-level executives is best served when the company in focus has seen transactions within the past six months. Over the latest 180-day time frame, Gildan Activewear Inc (USA) (NYSE:GIL) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

With the returns demonstrated by our studies, everyday investors should always keep an eye on hedge fund and insider trading sentiment, and Gildan Activewear Inc (USA) (NYSE:GIL) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!