Genesco Inc. (NYSE:GCO) Short Interest Down 13.3% in December

Genesco Inc. (NYSE:GCO) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 451,100 shares, a decrease of 13.3% from the December 15th total of 520,500 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily volume of 163,400 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

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

Genesco Price Performance

Shares of GCO traded up $0.01 during mid-day trading on Friday, hitting $40.40. 274,283 shares of the company traded hands, compared to its average volume of 158,057. The stock has a market capitalization of $452.99 million, a price-to-earnings ratio of -16.63 and a beta of 2.37. Genesco has a one year low of $23.21 and a one year high of $44.80. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $38.37 and a 200 day moving average of $31.50.

Genesco (NYSE:GCO) last issued its earnings results on Friday, December 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.31. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $596.30 million for the quarter, compared to analysts’ expectations of $577.73 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Genesco will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Genesco

In other Genesco 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 completion of the transaction, the vice president now owns 41,358 shares of the company’s stock, valued at $1,765,159.44. The trade was a 8.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Genesco

Several hedge funds have recently made changes to their positions in the business. Centiva Capital LP increased its position in Genesco by 4.3% during the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after buying an additional 357 shares during the last quarter. Quest Partners LLC grew its stake in shares of Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Genesco by 8.4% during the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock worth $313,000 after purchasing an additional 859 shares during the period. Quarry LP acquired a new position in Genesco in the second quarter valued at about $27,000. Finally, nVerses Capital LLC bought a new stake in Genesco during the third quarter worth $30,000. 94.51% of the stock is owned by institutional investors.

Genesco Company Profile

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.