Connor Clark & Lunn Investment Management Ltd. Sells 14,532 Shares of Genesco Inc. $GCO

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Genesco Inc. by 57.1%, now owning 10,896 shares valued at $231,000 after selling 14,532 shares in the first quarter.
• Other institutional investors have modified their positions in Genesco, including Vanguard Group, which increased its holdings by 23.9%, now owning 899,123 shares valued at $19,088,000.
• Genesco reported a quarterly earnings per share of ($2.05), beating analysts' expectations, and achieved revenues of $473.97 million, exceeding anticipated figures.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Genesco Inc. (NYSE:GCO - Free Report) by 57.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,896 shares of the company's stock after selling 14,532 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Genesco worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Genesco by 23.9% during the first quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock valued at $19,088,000 after purchasing an additional 173,255 shares in the last quarter. XTX Topco Ltd bought a new position in Genesco in the first quarter valued at about $424,000. Mackenzie Financial Corp lifted its holdings in Genesco by 16.5% in 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 during the period. KLP Kapitalforvaltning AS lifted its holdings in Genesco by 25.4% in the first quarter. KLP Kapitalforvaltning AS now owns 17,800 shares of the company's stock valued at $378,000 after acquiring an additional 3,600 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Genesco by 177.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,048 shares of the company's stock valued at $468,000 after acquiring an additional 14,093 shares during the period. 94.51% of the stock is owned by institutional investors.

Genesco Stock Performance

Shares of GCO opened at $25.6470 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $23.31 and a two-hundred day simple moving average of $24.67. The stock has a market cap of $276.45 million, a price-to-earnings ratio of -16.44 and a beta of 2.25. Genesco Inc. has a 52 week low of $16.19 and a 52 week high of $44.80.

Genesco (NYSE:GCO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($2.05) EPS for the quarter, topping analysts' consensus estimates of ($2.09) by $0.04. The business had revenue of $473.97 million during the quarter, compared to analysts' expectations of $463.90 million. Genesco had a positive return on equity of 2.22% and a negative net margin of 0.67%.The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.10) earnings per share. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. On average, analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the stock in a transaction dated 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 sale, the insider owned 1,072,850 shares in the company, valued at approximately $24,954,491. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on GCO shares. Truist Financial increased their target price on Genesco from $23.00 to $25.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Jefferies Financial Group reissued a "hold" rating and issued a $24.00 target price (down previously from $27.00) on shares of Genesco in a report on Wednesday, May 21st. Finally, Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Genesco presently has an average rating of "Hold" and an average price target of $24.50.

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.

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