SG Americas Securities LLC Raises Position in Genesco Inc. (NYSE:GCO)

SG Americas Securities LLC grew its position in shares of Genesco Inc. (NYSE:GCO - Free Report) by 4,730.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,212 shares of the company's stock after acquiring an additional 122,620 shares during the quarter. SG Americas Securities LLC owned 1.13% of Genesco worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in Genesco by 1.5% during the fourth quarter. Rhumbline Advisers now owns 19,146 shares of the company's stock worth $818,000 after purchasing an additional 281 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Genesco in the 4th quarter worth approximately $479,000. Versor Investments LP purchased a new position in shares of Genesco in the 4th quarter worth approximately $543,000. Inceptionr LLC purchased a new stake in shares of Genesco during the fourth quarter valued at approximately $264,000. Finally, American Century Companies Inc. increased its position in shares of Genesco by 25.3% during the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company's stock valued at $11,833,000 after acquiring an additional 55,977 shares during the last quarter. Institutional investors own 94.51% of the company's stock.

Insider Activity

In related news, Director Gregory A. Sandfort acquired 10,974 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the purchase, the director now owns 26,754 shares in the company, valued at $613,201.68. This trade represents a 69.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $23.26, for a total value of $581,500.00. Following the completion of the transaction, the insider now owns 1,072,850 shares of the company's stock, valued at approximately $24,954,491. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.11% of the company's stock.

Genesco Stock Performance

NYSE GCO traded down $0.15 on Wednesday, hitting $21.69. 112,815 shares of the stock traded hands, compared to its average volume of 222,909. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.55 and a current ratio of 1.91. The business's fifty day moving average is $21.06 and its two-hundred day moving average is $30.32. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80. The firm has a market capitalization of $233.80 million, a price-to-earnings ratio of -13.96 and a beta of 2.17.

Genesco (NYSE:GCO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($2.05) earnings per share for the quarter, topping the consensus estimate of ($2.09) by $0.04. Genesco had a positive return on equity of 2.22% and a negative net margin of 0.67%. The company had revenue of $473.97 million during the quarter, compared to the consensus estimate of $463.90 million. During the same quarter in the prior year, the company earned ($2.10) EPS. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GCO. Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Truist Financial increased their price target on shares of Genesco from $23.00 to $25.00 and gave the company a "hold" rating in a research report on Thursday, June 5th. Finally, Jefferies Financial Group restated a "hold" rating and set a $24.00 price objective (down previously from $27.00) on shares of Genesco in a report on Wednesday, May 21st.

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.