Genesco Inc. (NYSE:GCO – Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 452,200 shares, a decrease of 8.7% from the July 31st total of 495,200 shares. Based on an average daily trading volume, of 363,600 shares, the short-interest ratio is currently 1.2 days. Currently, 3.9% of the shares of the company are sold short.
Insider Activity at Genesco
In related news, Director Gregory A. Sandfort purchased 11,500 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average price of $22.05 per share, for a total transaction of $253,575.00. Following the purchase, the director now owns 15,780 shares in the company, valued at $347,949. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.33% of the stock is owned by company insiders.
Institutional Trading of Genesco
Several large investors have recently made changes to their positions in GCO. Quarry LP acquired a new stake in shares of Genesco during the 1st quarter worth approximately $27,000. Lazard Asset Management LLC lifted its stake in Genesco by 41.0% in the 1st quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock valued at $45,000 after purchasing an additional 206 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Genesco by 60.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,741 shares of the company’s stock valued at $69,000 after purchasing an additional 1,029 shares during the last quarter. Captrust Financial Advisors lifted its stake in Genesco by 45.2% in the 1st quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock valued at $78,000 after purchasing an additional 382 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Genesco by 70.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,563 shares of the company’s stock valued at $95,000 after purchasing an additional 1,061 shares during the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.
Genesco Stock Performance
Shares of NYSE:GCO traded down $0.76 on Friday, reaching $33.52. 301,258 shares of the company’s stock were exchanged, compared to its average volume of 254,173. The company has a fifty day moving average of $27.21 and a 200-day moving average of $31.53. Genesco has a twelve month low of $17.31 and a twelve month high of $53.25. The company has a market capitalization of $421.11 million, a price-to-earnings ratio of 8.72 and a beta of 2.04. The company has a current ratio of 1.70, a quick ratio of 0.36 and a debt-to-equity ratio of 0.20.
Genesco (NYSE:GCO – Get Free Report) last posted its quarterly earnings results on Thursday, August 31st. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.23) by $0.38. The business had revenue of $523.00 million for the quarter, compared to analyst estimates of $497.25 million. Genesco had a net margin of 2.05% and a return on equity of 8.05%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts predict that Genesco will post 2.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on shares of Genesco in a research report on Thursday, August 17th. They set a “hold” rating on the stock.
About Genesco
Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands.