Pzena Investment Management LLC Sells 55,320 Shares of Genesco Inc. (NYSE:GCO)

Pzena Investment Management LLC lessened its holdings in Genesco Inc. (NYSE:GCO - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 992,353 shares of the company's stock after selling 55,320 shares during the period. Pzena Investment Management LLC owned 8.99% of Genesco worth $21,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Portolan Capital Management LLC purchased a new stake in shares of Genesco in the fourth quarter worth $19,847,000. Marshall Wace LLP increased its stake in Genesco by 28.6% in the fourth quarter. Marshall Wace LLP now owns 428,143 shares of the company's stock valued at $18,303,000 after acquiring an additional 95,195 shares during the last quarter. American Century Companies Inc. increased its stake 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 acquiring an additional 55,977 shares during the last quarter. Fund 1 Investments LLC increased its stake in 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 last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Genesco by 2.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 200,075 shares of the company's stock valued at $8,553,000 after acquiring an additional 5,583 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company's stock.

Genesco Trading Down 1.1%

Shares of NYSE:GCO traded down $0.26 on Friday, reaching $22.97. 151,490 shares of the company traded hands, compared to its average volume of 229,755. The business's 50-day simple moving average is $22.13 and its 200 day simple moving average is $27.49. Genesco Inc. has a 52 week low of $16.19 and a 52 week high of $44.80. The stock has a market capitalization of $247.62 million, a P/E ratio of -14.72 and a beta of 2.11. The company has a current ratio of 1.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.22.

Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported ($2.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $473.97 million for the quarter, compared to analysts' expectations of $463.90 million. During the same period last year, the firm earned ($2.10) earnings per share. The company's revenue for the quarter 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.

Analyst Ratings Changes

GCO has been the topic of a number of research analyst reports. Wall Street Zen cut Genesco from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Truist Financial increased their target price on Genesco from $23.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, June 5th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $24.00 target price (down previously from $27.00) on shares of Genesco in a research note on Wednesday, May 21st.

Insider Activity

In related news, 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 sale, the insider directly owned 1,072,850 shares of the company's stock, valued at $24,954,491. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.11% of the stock is owned by insiders.

Genesco 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.