Genesco (NYSE:GCO) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Genesco Inc. (NYSE:GCO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.28 and traded as high as $40.92. Genesco shares last traded at $40.92, with a volume of 49,478 shares trading hands.

Analyst Upgrades and Downgrades

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

Genesco Trading Up 0.1 %

The stock has a market cap of $459.36 million, a PE ratio of -16.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. The stock has a fifty day moving average price of $33.62 and a 200 day moving average price of $29.47.

Genesco (NYSE:GCO) last posted its quarterly earnings data 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 company had revenue of $596.30 million for the quarter, compared to analyst estimates of $577.73 million. During the same period in the prior year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts expect that Genesco Inc. will post 0.81 EPS for the current year.

Insider Activity at Genesco

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total value of $170,720.00. Following the transaction, the vice president now owns 41,358 shares of the company’s stock, valued at $1,765,159.44. This trade represents a 8.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genesco

A number of hedge funds have recently added to or reduced their stakes in GCO. Centiva Capital LP increased its stake in shares of Genesco by 4.3% during the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock valued at $238,000 after buying an additional 357 shares during the period. Quest Partners LLC increased its position in Genesco by 54.9% during the 3rd quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after purchasing an additional 657 shares during the period. Franklin Resources Inc. increased its position in Genesco by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after purchasing an additional 859 shares during the period. Quarry LP purchased a new stake in shares of Genesco in the 2nd quarter worth approximately $27,000. Finally, nVerses Capital LLC bought a new position in shares of Genesco during the third quarter valued at approximately $30,000. 94.51% of the stock is currently owned by institutional investors.

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.