Neo Ivy Initiates Stake in Hanesbrands with $4.13 Million Purchase

Neo Ivy Capital Management has initiated a new position in Hanesbrands with 627,098 shares valued at $4.13 million. The position represents 1% of the fund's $410 million reportable assets under management. Hanesbrands is being acquired by Gildan Activewear, and Neo Ivy may have initiated its position believing the combined companies will be in a better position to reward shareholders.