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

Genesco Inc. (NYSE:GCO) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,180,000 shares, an increase of 10.8% from the December 15th total of 2,870,000 shares. Based on an average daily volume of 308,300 shares, the days-to-cover ratio is presently 10.3 days. Approximately 23.0% of the shares of the stock are short sold.

A number of brokerages recently commented on GCO. ValuEngine upgraded Genesco from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. TheStreet raised shares of Genesco from a “c+” rating to a “b-” rating in a research report on Friday, December 27th. Robert W. Baird boosted their price target on shares of Genesco from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Zacks Investment Research raised shares of Genesco from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, December 10th. Finally, Pivotal Research restated a “buy” rating and set a $57.00 price objective on shares of Genesco in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.00.

GCO traded up $0.73 during trading hours on Thursday, reaching $43.95. The company’s stock had a trading volume of 11,972 shares, compared to its average volume of 263,442. Genesco has a fifty-two week low of $31.65 and a fifty-two week high of $53.20. The stock has a market cap of $653.86 million, a PE ratio of 13.44, a P/E/G ratio of 2.08 and a beta of 0.57. The business’s 50-day moving average is $46.27 and its 200-day moving average is $40.62. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.34 and a quick ratio of 0.28.

Genesco (NYSE:GCO) last posted its earnings results on Friday, December 6th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. Genesco had a positive return on equity of 10.98% and a negative net margin of 1.74%. The company had revenue of $537.30 million during the quarter, compared to analysts’ expectations of $540.64 million. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that Genesco will post 4.28 EPS for the current year.

In other Genesco news, VP Daniel E. Ewoldsen sold 3,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.00, for a total value of $153,816.00. Following the transaction, the vice president now directly owns 14,073 shares of the company’s stock, valued at approximately $717,723. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Mason sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $48.10, for a total transaction of $120,250.00. Following the completion of the transaction, the director now directly owns 42,191 shares in the company, valued at $2,029,387.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,286 shares of company stock valued at $459,571. 4.40% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in Genesco by 837.9% in the third quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $25,000 after buying an additional 553 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Genesco during the third quarter worth approximately $127,000. Investors Research Corp raised its holdings in Genesco by 12.5% during the third quarter. Investors Research Corp now owns 3,600 shares of the company’s stock worth $144,000 after purchasing an additional 400 shares in the last quarter. Huntington National Bank lifted its position in shares of Genesco by 18.9% during the 3rd quarter. Huntington National Bank now owns 4,864 shares of the company’s stock worth $195,000 after buying an additional 774 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Genesco during the 2nd quarter worth approximately $204,000.

About Genesco

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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