Short Interest in Rocky Brands, Inc. (NASDAQ:RCKY) Decreases By 15.3%

Rocky Brands, Inc. (NASDAQ:RCKY) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 139,200 shares, a decline of 15.3% from the May 15th total of 164,300 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 39,600 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

Several research analysts recently commented on RCKY shares. StockNews.com cut Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. B. Riley boosted their target price on shares of Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Finally, Robert W. Baird upped their price objective on Rocky Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st.

Insider Buying and Selling at Rocky Brands

In related news, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $32.78, for a total value of $163,900.00. Following the transaction, the director now directly owns 20,686 shares of the company’s stock, valued at approximately $678,087.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director G Courtney Haning sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $32.78, for a total transaction of $163,900.00. Following the sale, the director now directly owns 20,686 shares in the company, valued at $678,087.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Burton Jr. Moore sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $38.82, for a total value of $349,380.00. Following the completion of the transaction, the director now directly owns 29,517 shares of the company’s stock, valued at $1,145,849.94. The disclosure for this sale can be found here. Insiders have sold 20,515 shares of company stock worth $750,713 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocky Brands

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Rocky Brands during the 4th quarter valued at approximately $118,000. Tower Research Capital LLC TRC boosted its position in shares of Rocky Brands by 94.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 826 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Rocky Brands in the 4th quarter worth about $555,000. Allspring Global Investments Holdings LLC boosted its stake in Rocky Brands by 22.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,584 shares of the textile maker’s stock worth $2,704,000 after buying an additional 16,220 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Rocky Brands in the 3rd quarter valued at $261,000. 75.06% of the stock is owned by institutional investors.

Rocky Brands Trading Down 2.4 %

Shares of RCKY stock opened at $34.88 on Monday. The company has a 50-day simple moving average of $33.00 and a two-hundred day simple moving average of $29.72. The company has a market capitalization of $258.81 million, a price-to-earnings ratio of 19.27 and a beta of 2.10. Rocky Brands has a 52-week low of $11.77 and a 52-week high of $40.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.10 and a current ratio of 3.31.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, April 30th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.39. Rocky Brands had a net margin of 2.88% and a return on equity of 8.41%. The business had revenue of $112.91 million for the quarter, compared to analysts’ expectations of $108.01 million.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.155 per share. The ex-dividend date is Friday, May 31st. This represents a $0.62 annualized dividend and a dividend yield of 1.78%. Rocky Brands’s dividend payout ratio (DPR) is presently 34.25%.

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.