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

Genesco Inc. (NYSE:GCO) was the target of a significant decline in short interest in 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. Based on an average daily volume of 150,800 shares, the days-to-cover ratio is currently 3.3 days. Approximately 4.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Genesco

Several hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Genesco during the 2nd quarter worth approximately $27,000. nVerses Capital LLC acquired a new position in Genesco in the 3rd quarter valued at $30,000. Point72 DIFC Ltd increased its stake in shares of 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 acquiring an additional 1,546 shares during the last quarter. Quest Partners LLC increased its stake in shares of Genesco by 54.9% in the 3rd quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock worth $50,000 after acquiring an additional 657 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Genesco by 256.4% during the 3rd quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Stock Performance

NYSE GCO traded up $2.03 during trading hours on Monday, reaching $35.62. The stock had a trading volume of 149,895 shares, compared to its average volume of 136,558. The stock has a fifty day moving average of $28.88 and a 200 day moving average of $27.81. The stock has a market cap of $399.66 million, a P/E ratio of -508.78 and a beta of 2.41. Genesco has a 52-week low of $23.21 and a 52-week high of $36.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Genesco from a “buy” rating to a “hold” rating in a research note on Thursday.

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.