Genesco Inc. (NYSE:GCO) Stake Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its position in shares of Genesco Inc. (NYSE:GCO - Free Report) by 177.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,048 shares of the company's stock after purchasing an additional 14,093 shares during the period. Massachusetts Financial Services Co. MA owned about 0.20% of Genesco worth $468,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Genesco by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company's stock worth $716,000 after acquiring an additional 702 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Genesco during the 1st quarter worth $293,000. SG Americas Securities LLC grew its position in Genesco by 4,730.7% during the 1st quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock worth $2,658,000 after purchasing an additional 122,620 shares during the last quarter. Summit Global Investments purchased a new position in Genesco during the 1st quarter worth $204,000. Finally, GAMMA Investing LLC grew its position in Genesco by 7,348.3% during the 1st quarter. GAMMA Investing LLC now owns 8,938 shares of the company's stock worth $190,000 after purchasing an additional 8,818 shares during the last quarter. 94.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Genesco Stock Performance

Shares of Genesco stock traded up $0.38 on Friday, reaching $24.71. 105,947 shares of the stock were exchanged, compared to its average volume of 179,113. Genesco Inc. has a 1-year low of $16.19 and a 1-year high of $44.80. The company has a current ratio of 1.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average price of $22.23 and a two-hundred day moving average price of $26.73. The firm has a market capitalization of $266.35 million, a PE ratio of -15.84 and a beta of 2.11.

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

Insider Activity

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

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.