Short Interest in Genesco Inc. (NYSE:GCO) Drops By 7.4%

Genesco Inc. (NYSE:GCO) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 490,800 shares, a decline of 7.4% from the October 31st total of 530,100 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average daily volume of 150,800 shares, the short-interest ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Genesco from a “buy” rating to a “hold” rating in a report on Thursday, November 28th.

Institutional Investors Weigh In On Genesco

A number of hedge funds and other institutional investors have recently made changes to their positions in GCO. Centiva Capital LP boosted its stake in shares of Genesco by 4.3% during the 3rd quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after acquiring an additional 357 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Genesco by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 29,246 shares of the company’s stock worth $756,000 after purchasing an additional 556 shares in the last quarter. Quest Partners LLC grew its holdings in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after purchasing an additional 657 shares during the period. Franklin Resources Inc. increased its position in shares of Genesco by 8.4% in the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after buying an additional 859 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Genesco during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Stock Performance

NYSE GCO traded up $0.83 during trading hours on Wednesday, reaching $37.76. The stock had a trading volume of 56,221 shares, compared to its average volume of 136,360. Genesco has a 52-week low of $23.21 and a 52-week high of $38.20. The stock has a fifty day moving average of $29.08 and a 200 day moving average of $27.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53. The stock has a market cap of $423.67 million, a P/E ratio of -526.85 and a beta of 2.47.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, September 6th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.29. The company had revenue of $525.19 million for the quarter, compared to the consensus estimate of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. Sell-side analysts predict that Genesco will post 0.66 earnings per share for the current year.

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.