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

Genesco Inc. (NYSE:GCO) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 443,700 shares, a drop of 9.6% from the November 15th total of 490,800 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily trading volume, of 153,800 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

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

Genesco Stock Up 0.0 %

Shares of NYSE:GCO opened at $43.19 on Friday. Genesco has a 12-month low of $23.21 and a 12-month high of $44.34. The stock has a market capitalization of $484.59 million, a price-to-earnings ratio of -17.77 and a beta of 2.47. The stock has a fifty day simple moving average of $31.41 and a two-hundred day simple moving average of $28.70. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.31. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $596.30 million during the quarter, compared to analyst estimates of $577.73 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Genesco’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Genesco will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently made changes to their positions in GCO. Franklin Resources Inc. lifted its position in Genesco by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after acquiring an additional 859 shares in the last quarter. Barclays PLC lifted its holdings in shares of Genesco by 103.1% during the third quarter. Barclays PLC now owns 20,730 shares of the company’s stock valued at $563,000 after purchasing an additional 10,521 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Genesco by 1.3% during the third quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock valued at $6,718,000 after buying an additional 3,157 shares during the last quarter. State Street Corp increased its holdings in Genesco by 2.1% in the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock worth $8,713,000 after buying an additional 6,587 shares in the last quarter. Finally, Point72 DIFC Ltd raised its position in Genesco by 1,627.4% in the 3rd quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock worth $45,000 after buying an additional 1,546 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Company Profile

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.