Genesco Inc. (NYSE:GCO) Sees Significant Increase in Short Interest

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

Wall Street Analyst Weigh In

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

Genesco Stock Performance

NYSE:GCO opened at $40.87 on Tuesday. The company has a market capitalization of $458.20 million, a PE ratio of -16.82 and a beta of 2.35. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $44.80. 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 company has a 50 day simple moving average of $41.58 and a two-hundred day simple moving average of $33.52.

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

Insider Activity at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the sale, the vice president now directly owns 41,358 shares in the company, valued at approximately $1,765,159.44. This represents a 8.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Genesco

Large investors have recently modified their holdings of the stock. Portolan Capital Management LLC bought a new position in shares of Genesco in the 4th quarter worth $19,847,000. Fund 1 Investments LLC lifted its holdings in shares of Genesco by 1,045.4% in the 4th quarter. Fund 1 Investments LLC now owns 242,965 shares of the company’s stock worth $10,387,000 after purchasing an additional 221,752 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Genesco by 124.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock worth $6,824,000 after purchasing an additional 139,485 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Genesco by 28.6% in the 4th quarter. Marshall Wace LLP now owns 428,143 shares of the company’s stock worth $18,303,000 after purchasing an additional 95,195 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Genesco by 25.3% in the 4th quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock worth $11,833,000 after purchasing an additional 55,977 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.