Ancora Advisors LLC Purchases New Stake in Genesco Inc. $GCO

Key Points

• Ancora Advisors acquired 94,370 Genesco shares worth approximately $3.19 million, giving it an estimated 0.85% stake in the company.
• Institutional investors and hedge funds own 94.51% of Genesco, while company insiders own 23.11%; director Gregory A. Sandfort also purchased nearly 3,000 shares.
• Genesco exceeded quarterly earnings and revenue expectations, but analyst sentiment remains cautious: the stock carries an average “Hold” rating with a $36.67 price target.

Ancora Advisors LLC bought a new position in shares of Genesco Inc. (NYSE:GCO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 94,370 shares of the company's stock, valued at approximately $3,187,000. Ancora Advisors LLC owned approximately 0.85% of Genesco as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Silver Oak Securities Incorporated lifted its stake in Genesco by 3.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 18,688 shares of the company's stock valued at $542,000 after buying an additional 627 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Genesco during the 1st quarter worth $27,000. Optiver Holding B.V. lifted its stake in shares of Genesco by 550.6% during the 1st quarter. Optiver Holding B.V. now owns 1,106 shares of the company's stock worth $32,000 after purchasing an additional 936 shares during the period. Legal & General Group Plc acquired a new stake in shares of Genesco during the second quarter worth $32,000. Finally, BNP Paribas Financial Markets grew its position in shares of Genesco by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 1,960 shares of the company's stock valued at $57,000 after purchasing an additional 941 shares during the period. 94.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Genesco news, Director Gregory A. Sandfort purchased 2,958 shares of the business's stock in a transaction on Thursday, July 9th. The stock was bought at an average cost of $33.80 per share, with a total value of $99,980.40. Following the acquisition, the director owned 29,172 shares of the company's stock, valued at $986,013.60. The trade was a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.11% of the stock is owned by company insiders.

Genesco Stock Performance

GCO stock opened at $34.38 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $381.96 million, a P/E ratio of 19.87 and a beta of 1.83. Genesco Inc. has a 12-month low of $21.92 and a 12-month high of $43.60. The stock's 50 day simple moving average is $35.70 and its 200 day simple moving average is $33.14.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, topping the consensus estimate of ($2.58) by $0.40. The firm had revenue of $487.03 million for the quarter, compared to analyst estimates of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, equities research analysts predict that Genesco Inc. will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GCO shares. Seaport Research Partners lowered shares of Genesco from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded Genesco from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, June 12th. Truist Financial set a $40.00 target price on Genesco in a report on Friday, May 29th. Zacks Research downgraded shares of Genesco from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Genesco from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $36.67.

Genesco Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company's retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source