SG Americas Securities LLC grew its holdings in shares of Genesco Inc. (NYSE:GCO - Free Report) by 4,730.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,212 shares of the company's stock after buying an additional 122,620 shares during the quarter. SG Americas Securities LLC owned 1.13% of Genesco worth $2,658,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in Genesco by 38.6% during the 4th quarter. BNP Paribas Financial Markets now owns 42,708 shares of the company's stock valued at $1,826,000 after purchasing an additional 11,900 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Genesco by 32.7% during the 4th quarter. Ameriprise Financial Inc. now owns 65,625 shares of the company's stock valued at $2,805,000 after purchasing an additional 16,161 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in Genesco during the 4th quarter valued at about $1,475,000. Versor Investments LP bought a new position in Genesco during the 4th quarter valued at about $543,000. Finally, Mackenzie Financial Corp bought a new position in Genesco during the 4th quarter valued at about $596,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, 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 completion of the sale, the insider now owns 1,097,850 shares of the company's stock, valued at $22,758,430.50. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory A. Sandfort bought 10,974 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $22.92 per share, with a total value of $251,524.08. Following the transaction, the director now directly owns 26,754 shares of the company's stock, valued at $613,201.68. The trade was a 69.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.11% of the company's stock.
Genesco Trading Down 5.7%
GCO stock traded down $1.22 during mid-day trading on Friday, reaching $20.19. The company had a trading volume of 388,470 shares, compared to its average volume of 222,356. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. The company has a market capitalization of $217.65 million, a PE ratio of -8.31 and a beta of 2.17. The firm has a 50 day moving average of $20.93 and a 200 day moving average of $30.49. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80.
Genesco (NYSE:GCO - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $463.90 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.10) EPS. On average, equities analysts predict that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Genesco from $23.00 to $25.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Wall Street Zen downgraded shares of Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $24.00 price target (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st.
Check Out Our Latest Stock Analysis on Genesco
Genesco Company Profile
(
Free Report)
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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