Silver Oak Securities Incorporated Makes New Investment in Genesco Inc. (NYSE:GCO)

Silver Oak Securities Incorporated purchased a new position in shares of Genesco Inc. (NYSE:GCO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,017 shares of the company's stock, valued at approximately $293,000. Silver Oak Securities Incorporated owned approximately 0.13% of Genesco at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Genesco during the fourth quarter worth about $35,000. GAMMA Investing LLC increased its position in Genesco by 7,348.3% during the first quarter. GAMMA Investing LLC now owns 8,938 shares of the company's stock worth $190,000 after acquiring an additional 8,818 shares during the period. Summit Global Investments bought a new position in Genesco during the first quarter worth about $204,000. Bayesian Capital Management LP bought a new position in Genesco during the fourth quarter worth about $234,000. Finally, State of Wyoming bought a new position in Genesco during the fourth quarter worth about $242,000. 94.51% of the stock is owned by institutional investors.

Insider Transactions at Genesco

In related news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of Genesco stock in a transaction on 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 sale, the insider owned 1,072,850 shares of the company's stock, valued at approximately $24,954,491. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 23.11% of the company's stock.

Genesco Trading Up 5.7%

Shares of NYSE:GCO traded up $1.30 during mid-day trading on Thursday, hitting $24.17. The company had a trading volume of 237,409 shares, compared to its average volume of 227,998. The firm has a fifty day moving average price of $21.78 and a 200 day moving average price of $28.25. The company has a market capitalization of $260.55 million, a PE ratio of -15.49 and a beta of 2.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 0.55. Genesco Inc. has a one year low of $16.19 and a one year high of $44.80.

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

Wall Street Analysts Forecast Growth

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

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.