Short Interest in Genesco Inc. (NYSE:GCO) Grows By 8.6%

Genesco Inc. (NYSE:GCO) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 517,600 shares, an increase of 8.6% from the January 15th total of 476,500 shares. Based on an average trading volume of 194,300 shares, the days-to-cover ratio is currently 2.7 days. Approximately 5.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

Genesco Stock Performance

GCO stock traded down $0.02 on Tuesday, reaching $40.88. 4,085 shares of the company were exchanged, compared to its average volume of 205,369. Genesco has a 12 month low of $23.21 and a 12 month high of $44.80. The stock’s fifty day moving average price is $41.58 and its 200 day moving average price is $33.52. The firm has a market capitalization of $458.21 million, a PE ratio of -16.82 and a beta of 2.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.31. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The firm had revenue of $596.30 million for the quarter, compared to the consensus estimate of $577.73 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Genesco will post 0.94 EPS for the current fiscal year.

Insider Activity

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total transaction of $170,720.00. Following the transaction, the vice president now owns 41,358 shares of the company’s stock, valued at approximately $1,765,159.44. The trade was a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.09% of the company’s stock.

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently bought and sold shares of the business. Virtus Investment Advisers Inc. acquired a new stake in Genesco during the fourth quarter worth $361,000. State of Wyoming acquired a new stake in Genesco during the fourth quarter worth $242,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Genesco during the fourth quarter worth $35,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Genesco in the 4th quarter valued at $356,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Genesco by 272.3% in the 4th quarter. Lazard Asset Management LLC now owns 35,114 shares of the company’s stock valued at $1,501,000 after purchasing an additional 25,682 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s 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 Genesco Brands.