Jarislowsky Fraser LTD Lowered Gildan Activewear (GIL) Position as Market Valuation Rose; As Pennantpark Invt (PNNT) Share Value Declined, Holder Arrowpoint Asset Management Raised Its Position

January 14, 2018 - By Adrian Erickson

Arrowpoint Asset Management Llc increased its stake in Pennantpark Invt Corp (PNNT) by 20.01% based on its latest 2017Q3 regulatory filing with the SEC. Arrowpoint Asset Management Llc bought 189,188 shares as the company’s stock declined 10.68% while stock markets rallied. The institutional investor held 1.13 million shares of the company at the end of 2017Q3, valued at $8.52M, up from 945,695 at the end of the previous reported quarter. Arrowpoint Asset Management Llc who had been investing in Pennantpark Invt Corp for a number of months, seems to be bullish on the $498.85M market cap company. The stock increased 0.86% or $0.06 during the last trading session, reaching $7.02. About 360,880 shares traded. PennantPark Investment Corporation (NASDAQ:PNNT) has risen 23.34% since January 14, 2017 and is uptrending. It has outperformed by 6.64% the S&P500.

Jarislowsky Fraser Ltd decreased its stake in Gildan Activewear Inc. (GIL) by 0.3% based on its latest 2017Q3 regulatory filing with the SEC. Jarislowsky Fraser Ltd sold 43,577 shares as the company’s stock rose 10.95% with the market. The institutional investor held 14.70M shares of the consumer non-durables company at the end of 2017Q3, valued at $458.20M, down from 14.74 million at the end of the previous reported quarter. Jarislowsky Fraser Ltd who had been investing in Gildan Activewear Inc. for a number of months, seems to be less bullish one the $7.03 billion market cap company. The stock increased 0.62% or $0.2 during the last trading session, reaching $32.57. About 220,343 shares traded. Gildan Activewear Inc. (NYSE:GIL) has declined 3.41% since January 14, 2017 and is downtrending. It has underperformed by 20.11% the S&P500.

Among 12 analysts covering Pennant Investment (NASDAQ:PNNT), 4 have Buy rating, 0 Sell and 8 Hold. Therefore 33% are positive. Pennant Investment had 31 analyst reports since August 6, 2015 according to SRatingsIntel. Ladenburg Thalmann downgraded the stock to “Neutral” rating in Thursday, February 9 report. The company was maintained on Friday, June 23 by Keefe Bruyette & Woods. The firm has “Hold” rating given on Thursday, October 26 by Keefe Bruyette & Woods. Jefferies maintained the stock with “Hold” rating in Tuesday, August 15 report. On Thursday, August 6 the stock rating was maintained by MLV with “Buy”. The rating was upgraded by Ladenburg Thalmann on Tuesday, November 22 to “Buy”. The rating was initiated by DA Davidson with “Buy” on Wednesday, September 30. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, August 24. The rating was downgraded by DA Davidson to “Neutral” on Wednesday, July 27. The rating was downgraded by Robert W. Baird on Monday, May 2 to “Neutral”.

Investors sentiment decreased to 0.98 in Q3 2017. Its down 0.43, from 1.41 in 2017Q2. It is negative, as 15 investors sold PNNT shares while 34 reduced holdings. 15 funds opened positions while 33 raised stakes. 27.05 million shares or 0.28% more from 26.97 million shares in 2017Q2 were reported. Cubic Asset Mgmt Limited Liability Co holds 0.05% or 22,775 shares in its portfolio. Goldman Sachs Group reported 132,318 shares or 0% of all its holdings. Blackrock owns 418,566 shares. Ameriprise Financial Incorporated, Minnesota-based fund reported 24,227 shares. Two Sigma Securities Limited Liability Company has 0.01% invested in PennantPark Investment Corporation (NASDAQ:PNNT) for 16,685 shares. Cibc Ww holds 0% or 30,921 shares. Clearbridge Lc invested 0.15% of its portfolio in PennantPark Investment Corporation (NASDAQ:PNNT). Janney Montgomery Scott Limited Com reported 189,156 shares. 4,400 are owned by Bessemer. California-based Aperio Gru Ltd Liability Com has invested 0% in PennantPark Investment Corporation (NASDAQ:PNNT). Greenwich Invest Mngmt has 530,506 shares. Balyasny Asset Mgmt Ltd Limited Liability Company holds 0% or 36,698 shares. Guggenheim Capital Ltd Llc has invested 0.01% in PennantPark Investment Corporation (NASDAQ:PNNT). California Public Employees Retirement invested 0% of its portfolio in PennantPark Investment Corporation (NASDAQ:PNNT). 25,700 are owned by Stifel Fincl Corp.

Arrowpoint Asset Management Llc, which manages about $5.56B and $8.80B US Long portfolio, decreased its stake in Bank Hawaii Corp (NYSE:BOH) by 30,000 shares to 73,968 shares, valued at $6.17 million in 2017Q3, according to the filing. It also reduced its holding in Insulet Corp (NASDAQ:PODD) by 181,803 shares in the quarter, leaving it with 637,007 shares, and cut its stake in Bluebird Bio Inc (NASDAQ:BLUE).

Analysts await Gildan Activewear Inc. (NYSE:GIL) to report earnings on February, 22. They expect $0.31 earnings per share, down 3.13% or $0.01 from last year’s $0.32 per share. GIL’s profit will be $66.94 million for 26.27 P/E if the $0.31 EPS becomes a reality. After $0.53 actual earnings per share reported by Gildan Activewear Inc. for the previous quarter, Wall Street now forecasts -41.51% negative EPS growth.

Among 14 analysts covering Gildan Activewear Inc. (NYSE:GIL), 7 have Buy rating, 0 Sell and 7 Hold. Therefore 50% are positive. Gildan Activewear Inc. had 34 analyst reports since August 4, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, November 2 by GMP Securities. The firm has “Hold” rating given on Monday, August 31 by Zacks. The rating was maintained by RBC Capital Markets on Friday, November 3 with “Hold”. RBC Capital Markets maintained the stock with “Buy” rating in Monday, June 19 report. Scotia Capital maintained the shares of GIL in report on Tuesday, August 4 with “Outperform” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Friday, December 15 report. GMP Securities maintained Gildan Activewear Inc. (NYSE:GIL) on Friday, August 4 with “Buy” rating. The firm has “Outperform” rating by RBC Capital Markets given on Friday, November 13. The stock has “Hold” rating by RBC Capital Markets on Tuesday, July 11. The rating was maintained by Canaccord Genuity with “Buy” on Thursday, July 6.

Jarislowsky Fraser Ltd, which manages about $33.95B and $16.69B US Long portfolio, upped its stake in Manulife Financial Corporation (NYSE:MFC) by 93,166 shares to 34.38M shares, valued at $695.70M in 2017Q3, according to the filing. It also increased its holding in Bank Of Nova Scotia (NYSE:BNS) by 173,233 shares in the quarter, for a total of 16.83M shares, and has risen its stake in Vermilion Energy Inc. (NYSE:VET).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: