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.
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.
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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