Short Interest in Weyco Group, Inc. (NASDAQ:WEYS) Declines By 21.1%

Weyco Group, Inc. (NASDAQ:WEYS) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 65,241 shares, a decline of 21.1% from the March 31st total of 82,636 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 13,099 shares, the short-interest ratio is currently 5.0 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Weyco Group from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Weyco Group Stock Performance

Shares of WEYS opened at $32.99 on Friday. The company has a 50 day moving average price of $33.01 and a 200-day moving average price of $31.66. Weyco Group has a fifty-two week low of $27.25 and a fifty-two week high of $35.18. The stock has a market capitalization of $314.39 million, a PE ratio of 13.69 and a beta of 0.89.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Tuesday, March 3rd. The textile maker reported $0.91 earnings per share for the quarter. Weyco Group had a net margin of 8.36% and a return on equity of 9.35%. The firm had revenue of $76.80 million during the quarter.

Weyco Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, March 13th. Weyco Group’s dividend payout ratio is presently 44.81%.

Institutional Investors Weigh In On Weyco Group

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Weyco Group by 0.8% during the third quarter. Vanguard Group Inc. now owns 366,204 shares of the textile maker’s stock valued at $11,019,000 after acquiring an additional 2,792 shares during the last quarter. Geode Capital Management LLC lifted its position in Weyco Group by 1.4% during the second quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker’s stock valued at $5,313,000 after acquiring an additional 2,224 shares during the last quarter. State Street Corp lifted its position in Weyco Group by 2.4% during the fourth quarter. State Street Corp now owns 100,675 shares of the textile maker’s stock valued at $3,304,000 after acquiring an additional 2,381 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Weyco Group by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock valued at $3,078,000 after acquiring an additional 2,226 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Weyco Group by 4.5% during the fourth quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker’s stock valued at $1,591,000 after acquiring an additional 2,226 shares during the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.