Short Interest in Rocky Brands, Inc. (NASDAQ:RCKY) Expands By 22.6%

Rocky Brands, Inc. (NASDAQ:RCKY) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 96,600 shares, an increase of 22.6% from the January 15th total of 78,800 shares. Based on an average daily trading volume, of 43,200 shares, the short-interest ratio is currently 2.2 days. Approximately 1.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RCKY. Robert W. Baird dropped their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, February 8th.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its holdings in shares of Rocky Brands by 0.8% in the fourth quarter. Northern Trust Corp now owns 77,994 shares of the textile maker’s stock worth $1,778,000 after buying an additional 618 shares during the period. Voya Investment Management LLC raised its position in Rocky Brands by 43.9% during the fourth quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker’s stock valued at $231,000 after acquiring an additional 3,091 shares in the last quarter. Marshall Wace LLP raised its position in Rocky Brands by 31.2% during the fourth quarter. Marshall Wace LLP now owns 29,923 shares of the textile maker’s stock valued at $682,000 after acquiring an additional 7,115 shares in the last quarter. Barclays PLC raised its position in shares of Rocky Brands by 13.7% in the fourth quarter. Barclays PLC now owns 11,092 shares of the textile maker’s stock valued at $253,000 after purchasing an additional 1,335 shares during the period. Finally, LSV Asset Management raised its position in shares of Rocky Brands by 7.4% in the fourth quarter. LSV Asset Management now owns 36,061 shares of the textile maker’s stock valued at $822,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Stock Performance

Shares of NASDAQ:RCKY traded down $0.18 on Friday, reaching $23.81. 16,060 shares of the company’s stock were exchanged, compared to its average volume of 39,575. The firm has a market capitalization of $177.38 million, a price-to-earnings ratio of 13.38 and a beta of 2.10. Rocky Brands has a fifty-two week low of $19.65 and a fifty-two week high of $40.14. The business’s 50-day moving average is $23.59 and its two-hundred day moving average is $26.08. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were issued a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.60%. Rocky Brands’s dividend payout ratio (DPR) is presently 34.83%.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.