Genesco Inc. (NYSE:GCO) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in Genesco Inc. (NYSE:GCO - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,176 shares of the company's stock after selling 14,033 shares during the period. Millennium Management LLC owned about 0.12% of Genesco worth $563,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GCO. Portolan Capital Management LLC acquired a new stake in Genesco during the fourth quarter worth about $19,847,000. Marshall Wace LLP raised its position in Genesco by 28.6% in the 4th quarter. Marshall Wace LLP now owns 428,143 shares of the company's stock valued at $18,303,000 after purchasing an additional 95,195 shares in the last quarter. American Century Companies Inc. boosted its holdings in Genesco by 25.3% in the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company's stock valued at $11,833,000 after purchasing an additional 55,977 shares in the last quarter. Fund 1 Investments LLC boosted its holdings in shares of Genesco by 1,045.4% in the fourth quarter. Fund 1 Investments LLC now owns 242,965 shares of the company's stock valued at $10,387,000 after acquiring an additional 221,752 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Genesco by 2.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 200,075 shares of the company's stock valued at $8,553,000 after buying an additional 5,583 shares during the period. Institutional investors own 94.51% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

GCO has been the subject of several research reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $24.00 price objective (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st. Wall Street Zen cut Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Truist Financial lifted 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.

Genesco Trading Down 2.0%

Shares of Genesco stock traded down $0.43 during trading hours on Thursday, hitting $21.37. The company's stock had a trading volume of 349,775 shares, compared to its average volume of 305,771. The business has a fifty day moving average of $20.82 and a 200 day moving average of $30.70. Genesco Inc. has a 1-year low of $16.19 and a 1-year high of $44.80. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $230.37 million, a PE ratio of -8.79 and a beta of 2.17.

Genesco (NYSE:GCO - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported ($2.05) EPS for the quarter, beating the consensus estimate of ($2.09) by $0.04. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The business had revenue of $473.97 million for the quarter, compared to the consensus estimate of $463.90 million. During the same period last year, the business posted ($2.10) EPS. The company's revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Genesco Inc. will post 0.94 EPS for the current 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.