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

Silver Oak Securities Incorporated purchased a new stake in Genesco Inc. (NYSE:GCO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,017 shares of the company's stock, valued at approximately $293,000. Silver Oak Securities Incorporated owned about 0.13% of Genesco at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Genesco by 4,730.7% in the first quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock valued at $2,658,000 after acquiring an additional 122,620 shares during the last quarter. Summit Global Investments acquired a new stake in Genesco in the first quarter valued at $204,000. GAMMA Investing LLC lifted its stake in Genesco by 7,348.3% in the first quarter. GAMMA Investing LLC now owns 8,938 shares of the company's stock valued at $190,000 after acquiring an additional 8,818 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Genesco in the fourth quarter valued at $596,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Genesco in the fourth quarter valued at about $361,000. Institutional investors and hedge funds own 94.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Genesco Stock Performance

Shares of GCO traded up $0.57 during trading hours on Wednesday, hitting $22.84. The company had a trading volume of 153,774 shares, compared to its average volume of 227,961. The firm has a market cap of $246.22 million, a price-to-earnings ratio of -14.64 and a beta of 2.11. The business has a fifty day moving average of $21.72 and a 200-day moving average of $28.28. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80. The company has a quick ratio of 0.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.22.

Genesco (NYSE:GCO - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported ($2.05) 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 last year, the firm earned ($2.10) earnings per share. Genesco's revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $23.26, for a total transaction of $581,500.00. Following the transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 23.11% of the company's stock.

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.