Pzena Investment Management LLC Cuts Stake in Genesco Inc. (NYSE:GCO)

Pzena Investment Management LLC lessened its stake in Genesco Inc. (NYSE:GCO) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 744,176 shares of the company’s stock after selling 21,178 shares during the period. Pzena Investment Management LLC owned 0.06% of Genesco worth $20,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in shares of Genesco during the fourth quarter worth about $250,000. Summit Global Investments acquired a new stake in shares of Genesco during the fourth quarter worth about $340,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Genesco by 328.3% during the third quarter. Public Employees Retirement System of Ohio now owns 24,474 shares of the company’s stock worth $754,000 after purchasing an additional 18,760 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Genesco by 54.2% during the first quarter. BNP Paribas Financial Markets now owns 36,283 shares of the company’s stock worth $1,021,000 after purchasing an additional 12,754 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in shares of Genesco by 83.9% during the fourth quarter. GSA Capital Partners LLP now owns 68,943 shares of the company’s stock worth $2,427,000 after purchasing an additional 31,456 shares during the period. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Genesco from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd.

Genesco Price Performance

Shares of NYSE:GCO traded down $0.12 during midday trading on Wednesday, hitting $24.86. The company had a trading volume of 88,618 shares, compared to its average volume of 133,908. Genesco Inc. has a twelve month low of $23.21 and a twelve month high of $37.89. The stock has a market cap of $289.12 million, a price-to-earnings ratio of -12.76 and a beta of 2.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.65 and a quick ratio of 0.37. The business’s 50-day simple moving average is $25.83 and its 200-day simple moving average is $27.69.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, May 31st. The company reported ($2.10) earnings per share for the quarter, topping the consensus estimate of ($2.66) by $0.56. The company had revenue of $457.60 million during the quarter, compared to analyst estimates of $445.66 million. Genesco had a positive return on equity of 0.40% and a negative net margin of 0.97%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.59) earnings per share. On average, research analysts predict that Genesco Inc. will post 0.66 earnings per share for the current year.

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.