Genesco Inc. (NYSE:GCO) Sees Large Increase in Short Interest

Genesco Inc. (NYSE:GCO) saw a significant increase in short interest in 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. Approximately 23.0% of the shares of the stock are short sold. Based on an average daily volume of 308,300 shares, the days-to-cover ratio is presently 10.3 days.

GCO traded up $0.73 during midday trading 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. The stock has a market cap of $653.86 million, a P/E ratio of 13.44, a PEG ratio of 2.08 and a beta of 0.57. The company has a fifty day simple moving average of $46.27 and a 200 day simple moving average of $40.62. The company has a current ratio of 1.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.27. Genesco has a twelve month low of $31.65 and a twelve month high of $53.20.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, December 6th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. Genesco had a negative net margin of 1.74% and a positive return on equity of 10.98%. The business had revenue of $537.30 million for the quarter, compared to the consensus estimate of $540.64 million. During the same quarter last year, the company posted $0.95 earnings per share. Genesco’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Genesco will post 4.28 earnings per share for the current year.

GCO has been the subject of a number of recent research reports. Robert W. Baird raised their price target on Genesco from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. TheStreet raised Genesco from a “c+” rating to a “b-” rating in a research note on Friday, December 27th. Pivotal Research restated a “buy” rating and issued a $57.00 price objective on shares of Genesco in a report on Monday. ValuEngine raised shares of Genesco from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. Finally, Susquehanna Bancshares reiterated a “buy” rating and issued a $58.00 target price on shares of Genesco in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $56.00.

In other Genesco news, VP Daniel E. Ewoldsen sold 3,270 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $49.39, for a total transaction of $161,505.30. Following the sale, the vice president now directly owns 10,803 shares of the company’s stock, valued at approximately $533,560.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel E. Ewoldsen sold 3,016 shares of Genesco stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.00, for a total transaction of $153,816.00. Following the completion of the sale, the vice president now directly owns 14,073 shares of the company’s stock, valued at $717,723. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,286 shares of company stock worth $459,571. 4.40% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC grew its position in Genesco by 837.9% in the 3rd quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $25,000 after purchasing an additional 553 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Genesco during the 3rd quarter worth about $127,000. Investors Research Corp raised its position in shares of Genesco by 12.5% during the third quarter. Investors Research Corp now owns 3,600 shares of the company’s stock valued at $144,000 after buying an additional 400 shares during the last quarter. Huntington National Bank raised its position in shares of Genesco by 18.9% during the third quarter. Huntington National Bank now owns 4,864 shares of the company’s stock valued at $195,000 after buying an additional 774 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Genesco during the second quarter valued at about $204,000.

About Genesco

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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