Short Interest in Genesco Inc. (NYSE:GCO) Drops By 9.6%

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

Insider Buying and Selling

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total value of $170,720.00. Following the transaction, the vice president now directly owns 41,358 shares of the company’s stock, valued at approximately $1,765,159.44. This trade represents a 8.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.09% of the stock is currently owned by company insiders.

Institutional Trading of Genesco

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Genesco during the second quarter worth about $27,000. nVerses Capital LLC bought a new position in Genesco during the 3rd quarter worth approximately $30,000. Point72 DIFC Ltd grew its position 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 in the last quarter. Quest Partners LLC raised its position in shares of Genesco by 54.9% during the 3rd quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares in the last quarter. Finally, CWM LLC lifted its stake in Genesco by 256.4% during the third 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 last quarter. 94.51% of the stock is owned by institutional investors and hedge funds.

Genesco Trading Up 0.6 %

GCO traded up $0.27 during trading on Tuesday, hitting $43.48. 126,865 shares of the company’s stock were exchanged, compared to its average volume of 140,457. Genesco has a 1 year low of $23.21 and a 1 year high of $44.34. The stock has a 50 day moving average price of $32.06 and a 200 day moving average price of $28.93. The firm has a market cap of $487.88 million, a P/E ratio of -17.89 and a beta of 2.47. 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 released its quarterly earnings data on Friday, December 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.30 by $0.31. The company had revenue of $596.30 million for the quarter, compared to analyst estimates of $577.73 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. As a group, analysts expect that Genesco will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.