Cubist Systematic Strategies LLC Sells 25,373 Shares of Genesco Inc. (NYSE:GCO)

Cubist Systematic Strategies LLC cut its stake in shares of Genesco Inc. (NYSE:GCO - Free Report) by 60.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,515 shares of the company's stock after selling 25,373 shares during the period. Cubist Systematic Strategies LLC owned about 0.15% of Genesco worth $706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Genesco during the fourth quarter worth $111,000. Bayesian Capital Management LP purchased a new position in shares of Genesco during the 4th quarter worth $234,000. Wells Fargo & Company MN grew its holdings in shares of Genesco by 28.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company's stock worth $250,000 after purchasing an additional 1,281 shares during the period. Inceptionr LLC purchased a new stake in Genesco in the 4th quarter valued at about $264,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Genesco in the fourth quarter valued at about $340,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Stock Down 5.5%

Genesco stock traded down $1.27 during trading on Wednesday, reaching $21.60. The stock had a trading volume of 48,177 shares, compared to its average volume of 211,810. The stock has a market cap of $232.79 million, a PE ratio of -8.84 and a beta of 2.14. Genesco Inc. has a 52-week low of $16.19 and a 52-week high of $44.80. The business has a 50 day moving average price of $20.67 and a 200 day moving average price of $31.54. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

Genesco (NYSE:GCO - Get Free Report) last issued its earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.31 by ($0.05). Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $745.95 million for the quarter, compared to analysts' expectations of $780.43 million. During the same quarter in the previous year, the firm posted $2.59 EPS. On average, analysts predict that Genesco Inc. will post 0.94 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Genesco from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th.

Insiders Place Their Bets

In other Genesco news, Director Gregory A. Sandfort bought 10,974 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the transaction, the director now owns 26,754 shares in the company, valued at approximately $613,201.68. The trade was a 69.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the sale, the insider now directly owns 1,097,850 shares in the company, valued at $22,758,430.50. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.09% of the stock is owned by company insiders.

About Genesco

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.