Silver Oak Securities Incorporated Acquires Shares of 14,017 Genesco Inc. (NYSE:GCO)

Silver Oak Securities Incorporated acquired a new stake in shares of Genesco Inc. (NYSE:GCO) in the first quarter, HoldingsChannel.com reports. The fund acquired 14,017 shares of the company’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Portolan Capital Management LLC bought a new stake in Genesco during the 4th quarter valued at $19,847,000. Marshall Wace LLP increased its position in shares of Genesco by 28.6% in the fourth quarter. Marshall Wace LLP now owns 428,143 shares of the company’s stock valued at $18,303,000 after acquiring an additional 95,195 shares during the period. American Century Companies Inc. increased its position in shares of Genesco by 25.3% in the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock valued at $11,833,000 after acquiring an additional 55,977 shares during the period. Fund 1 Investments LLC raised its stake in shares of Genesco by 1,045.4% during the fourth quarter. Fund 1 Investments LLC now owns 242,965 shares of the company’s stock valued at $10,387,000 after acquiring an additional 221,752 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Genesco by 2.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 200,075 shares of the company’s stock worth $8,553,000 after purchasing an additional 5,583 shares during the period. Institutional investors own 94.51% of the company’s stock.

Genesco Stock Down 2.4%

Shares of NYSE GCO opened at $21.32 on Friday. The firm has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $30.16. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80. The company has a current ratio of 1.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $229.87 million, a PE ratio of -13.67 and a beta of 2.17.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Wednesday, June 4th. The company reported ($2.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.09) by $0.04. Genesco had a negative net margin of 0.67% and a positive return on equity of 2.22%. The company had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $463.90 million. During the same quarter in the previous year, the company earned ($2.10) earnings per share. Genesco’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts expect that Genesco Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen cut Genesco from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Truist Financial lifted their price objective on Genesco from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, June 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $24.00 target price (down from $27.00) on shares of Genesco in a research note on Wednesday, May 21st.

Insider Buying and Selling at Genesco

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $23.26, for a total transaction of $581,500.00. Following the completion of the transaction, the insider now owns 1,072,850 shares of the company’s stock, valued at approximately $24,954,491. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 23.11% of the company’s stock.

Genesco 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.