Weyco Group, Inc. (NASDAQ:WEYS) Sees Significant Increase in Short Interest

Weyco Group, Inc. (NASDAQ:WEYS) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 112,200 shares, a growth of 10.2% from the May 30th total of 101,800 shares. Based on an average daily volume of 9,400 shares, the days-to-cover ratio is currently 11.9 days. Approximately 2.1% of the shares of the company are sold short.

NASDAQ:WEYS opened at $24.74 on Friday. The firm’s fifty day moving average is $26.17. The company has a market cap of $247.35 million, a P/E ratio of 11.89 and a beta of 0.80. The company has a current ratio of 4.91, a quick ratio of 2.58 and a debt-to-equity ratio of 0.09. Weyco Group has a fifty-two week low of $24.01 and a fifty-two week high of $39.75.

Weyco Group (NASDAQ:WEYS) last released its earnings results on Tuesday, May 7th. The textile maker reported $0.40 earnings per share for the quarter. The firm had revenue of $74.13 million during the quarter. Weyco Group had a return on equity of 10.52% and a net margin of 7.08%.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from Weyco Group’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, May 30th.

Separately, BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday.

In other news, VP Allison Woss sold 2,623 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $32.60, for a total transaction of $85,509.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Bernsteen sold 1,600 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $33.20, for a total value of $53,120.00. The disclosure for this sale can be found here. Insiders own 42.03% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in shares of Weyco Group by 37.5% in the fourth quarter. Rhumbline Advisers now owns 10,004 shares of the textile maker’s stock worth $292,000 after acquiring an additional 2,726 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Weyco Group by 18.4% in the fourth quarter. First Trust Advisors LP now owns 11,326 shares of the textile maker’s stock worth $330,000 after acquiring an additional 1,758 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Weyco Group by 16.9% in the fourth quarter. California Public Employees Retirement System now owns 10,540 shares of the textile maker’s stock worth $307,000 after acquiring an additional 1,523 shares during the last quarter. BlackRock Inc. boosted its position in shares of Weyco Group by 2.7% in the fourth quarter. BlackRock Inc. now owns 447,555 shares of the textile maker’s stock worth $13,056,000 after acquiring an additional 11,564 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Weyco Group by 12.1% in the fourth quarter. Bessemer Group Inc. now owns 13,900 shares of the textile maker’s stock worth $405,000 after acquiring an additional 1,500 shares during the last quarter. 34.38% of the stock is owned by institutional investors.

About Weyco Group

Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, and Rafters brand names.

Further Reading: Accumulation/Distribution

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