Bridgeway Capital Management LLC Acquires 86,553 Shares of Genesco Inc. $GCO

Key Points

• Bridgeway Capital Management LLC significantly increased its stake in Genesco Inc. by 89%, acquiring an additional 86,553 shares to own a total of 183,754 shares valued at approximately $3.9 million.
• Institutional investors hold a substantial 94.51% of Genesco's stock, indicating strong interest from major financial entities.
• Despite recent upgrades from several analysts, consensus ratings on Genesco's stock have varied, with a current average target price of $30.00.

Bridgeway Capital Management LLC raised its holdings in Genesco Inc. (NYSE:GCO - Free Report) by 89.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,754 shares of the company's stock after buying an additional 86,553 shares during the quarter. Bridgeway Capital Management LLC owned 1.66% of Genesco worth $3,901,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Genesco by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company's stock worth $616,000 after purchasing an additional 650 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Genesco by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company's stock worth $716,000 after buying an additional 702 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Genesco in the fourth quarter worth approximately $35,000. Northern Trust Corp grew its stake in Genesco by 1.9% in the fourth quarter. Northern Trust Corp now owns 111,992 shares of the company's stock valued at $4,788,000 after acquiring an additional 2,065 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Genesco by 16.5% during the first quarter. Mackenzie Financial Corp now owns 16,242 shares of the company's stock valued at $345,000 after acquiring an additional 2,305 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GCO. Wall Street Zen cut Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Seaport Res Ptn raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Zacks Research upgraded shares of Genesco from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Truist Financial boosted their target price on shares of Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a research report on Friday, August 29th. Finally, Jefferies Financial Group raised their price target on shares of Genesco from $24.00 to $29.00 and gave the company a "hold" rating in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $30.00.

Genesco Stock Up 2.9%

Shares of GCO traded up $0.96 during trading hours on Thursday, reaching $33.85. 143,292 shares of the stock traded hands, compared to its average volume of 224,786. Genesco Inc. has a 52 week low of $16.19 and a 52 week high of $44.80. The company has a market cap of $364.82 million, a price-to-earnings ratio of -13.87 and a beta of 2.22. The stock has a fifty day simple moving average of $26.63 and a 200 day simple moving average of $23.78. The company has a current ratio of 1.56, a quick ratio of 0.35 and a debt-to-equity ratio of 0.11.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.11. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. The firm had revenue of $545.97 million during the quarter, compared to analyst estimates of $531.89 million. During the same quarter last year, the business posted ($0.83) EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, equities analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Genesco Company 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.