Weyco Group, Inc. (NASDAQ:WEYS) Short Interest Up 41.5% in December

Weyco Group, Inc. (NASDAQ:WEYSGet Free Report) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 52,200 shares, a growth of 41.5% from the December 15th total of 36,900 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 16,400 shares, the days-to-cover ratio is currently 3.2 days.

Insider Buying and Selling

In related news, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $37.98, for a total value of $109,876.14. Following the sale, the chief financial officer now owns 13,100 shares of the company’s stock, valued at $497,538. The trade was a 18.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Allison Woss sold 1,463 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $37.81, for a total transaction of $55,316.03. Following the sale, the vice president now directly owns 7,623 shares of the company’s stock, valued at approximately $288,225.63. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,685 shares of company stock worth $214,730 in the last quarter. 38.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weyco Group

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of Weyco Group by 34.1% in the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock valued at $68,000 after buying an additional 511 shares during the period. Barclays PLC raised its stake in shares of Weyco Group by 263.8% in the 3rd quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock valued at $273,000 after purchasing an additional 5,803 shares during the period. Ritholtz Wealth Management grew its holdings in shares of Weyco Group by 23.4% during the third quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after buying an additional 1,893 shares in the last quarter. JPMorgan Chase & Co. raised its position in Weyco Group by 72.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,912 shares of the textile maker’s stock valued at $405,000 after buying an additional 4,990 shares during the last quarter. Finally, First Business Financial Services Inc. boosted its position in Weyco Group by 8.3% during the 3rd quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock worth $446,000 after acquiring an additional 1,000 shares during the last quarter. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Weyco Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

View Our Latest Stock Analysis on Weyco Group

Weyco Group Stock Performance

WEYS opened at $35.22 on Friday. The firm’s fifty day moving average is $36.07 and its two-hundred day moving average is $34.10. The firm has a market cap of $336.67 million, a PE ratio of 11.66 and a beta of 0.71. Weyco Group has a twelve month low of $27.05 and a twelve month high of $41.05.

Weyco Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, November 18th were paid a $2.26 dividend. This represents a $9.04 dividend on an annualized basis and a yield of 25.67%. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, November 18th. Weyco Group’s payout ratio is presently 34.44%.

About Weyco Group

(Get Free Report)

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.

Further Reading

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