Man Group plc Decreases Stock Position in Genesco Inc. (NYSE:GCO)

Man Group plc reduced its stake in shares of Genesco Inc. (NYSE:GCO - Free Report) by 75.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,397 shares of the company's stock after selling 110,213 shares during the period. Man Group plc owned approximately 0.32% of Genesco worth $1,556,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GCO. SG Americas Securities LLC purchased a new stake in shares of Genesco during the 4th quarter worth $111,000. Empowered Funds LLC boosted its position in shares of Genesco by 5.0% during the 4th quarter. Empowered Funds LLC now owns 61,501 shares of the company's stock worth $2,629,000 after purchasing an additional 2,953 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Genesco by 1.5% during the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company's stock worth $818,000 after purchasing an additional 281 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Genesco during the 4th quarter worth $479,000. Finally, Versor Investments LP purchased a new stake in shares of Genesco during the 4th quarter worth $543,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on GCO shares. Jefferies Financial Group restated a "hold" rating and set a $24.00 target price (down from $27.00) on shares of Genesco in a research report on Wednesday, May 21st. Truist Financial initiated coverage on Genesco in a research note on Wednesday. They set a "hold" rating and a $23.00 price target for the company. Finally, Wall Street Zen downgraded Genesco from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th.

Insider Activity at Genesco

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 approximately $22,758,430.50. This represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory A. Sandfort bought 10,974 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $22.92 per share, with a total value of $251,524.08. Following the transaction, the director now owns 26,754 shares in the company, valued at approximately $613,201.68. This represents a 69.54% increase in their position. The disclosure for this purchase can be found here. 7.09% of the stock is currently owned by corporate insiders.

Genesco Price Performance

GCO stock traded down $0.18 during trading on Thursday, hitting $21.56. The stock had a trading volume of 41,511 shares, compared to its average volume of 298,455. The company's 50 day moving average price is $20.62 and its two-hundred day moving average price is $31.24. Genesco Inc. has a 1-year low of $16.19 and a 1-year high of $44.80. The stock has a market cap of $232.40 million, a price-to-earnings ratio of -8.86 and a beta of 2.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56.

Genesco (NYSE:GCO - Get Free Report) last announced its earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The firm had revenue of $745.95 million during the quarter, compared to analyst estimates of $780.43 million. During the same period in the previous year, the firm posted $2.59 EPS. On average, sell-side analysts forecast that Genesco Inc. will post 0.94 EPS for the current fiscal year.

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.