BidaskClub Downgrades Weyco Group (WEYS) to Sell

Weyco Group (NASDAQ:WEYS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Separately, ValuEngine raised shares of Weyco Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st.

WEYS stock traded up $0.04 during trading on Wednesday, hitting $28.55. The stock had a trading volume of 151 shares, compared to its average volume of 19,277. Weyco Group has a twelve month low of $27.03 and a twelve month high of $39.93. The stock has a market cap of $295.74 million, a price-to-earnings ratio of 17.27 and a beta of 0.66.

Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings data on Tuesday, November 6th. The textile maker reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $78.38 million for the quarter. Weyco Group had a return on equity of 8.53% and a net margin of 6.56%.

In other news, VP Michael Bernsteen sold 1,000 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $33.51, for a total transaction of $33,510.00. Following the sale, the vice president now owns 7,056 shares of the company’s stock, valued at $236,446.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tina M. Chang sold 1,500 shares of the business’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $33.18, for a total transaction of $49,770.00. Following the transaction, the director now owns 9,302 shares of the company’s stock, valued at approximately $308,640.36. The disclosure for this sale can be found here. 43.60% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of WEYS. BlackRock Inc. boosted its stake in Weyco Group by 0.5% in the third quarter. BlackRock Inc. now owns 435,991 shares of the textile maker’s stock valued at $15,337,000 after acquiring an additional 2,120 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Weyco Group by 1.6% in the third quarter. Vanguard Group Inc now owns 269,849 shares of the textile maker’s stock valued at $9,493,000 after buying an additional 4,231 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Weyco Group by 1.6% in the third quarter. Vanguard Group Inc. now owns 269,849 shares of the textile maker’s stock valued at $9,493,000 after buying an additional 4,231 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Weyco Group by 21.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 36,504 shares of the textile maker’s stock valued at $1,329,000 after buying an additional 6,442 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Weyco Group in the third quarter valued at about $249,000. Hedge funds and other institutional investors own 31.63% of the company’s stock.

About Weyco Group

Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.

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