Silver Oak Securities Incorporated Invests $293,000 in Genesco Inc. (NYSE:GCO)

Silver Oak Securities Incorporated acquired a new stake in shares of Genesco Inc. (NYSE:GCO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in Genesco by 4,730.7% in the 1st quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock valued at $2,658,000 after purchasing an additional 122,620 shares during the period. Summit Global Investments bought a new stake in Genesco during the first quarter valued at $204,000. GAMMA Investing LLC grew 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 buying an additional 8,818 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Genesco during the fourth quarter worth about $596,000. Finally, Virtus Investment Advisers Inc. bought a new position in Genesco in the 4th quarter worth about $361,000. Institutional investors own 94.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Jefferies Financial Group reiterated a "hold" rating and set a $24.00 price target (down previously from $27.00) on shares of Genesco in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of Genesco from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Truist Financial boosted their price target on shares of Genesco from $23.00 to $25.00 and gave the stock a "hold" rating in a research note on Thursday, June 5th.

Genesco Stock Down 2.4%

GCO opened at $21.32 on Friday. The business's fifty day simple moving average is $21.12 and its 200 day simple moving average is $30.16. Genesco Inc. has a 52 week low of $16.19 and a 52 week 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. The stock has a market cap of $229.87 million, a PE ratio of -13.67 and a beta of 2.17.

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

Insiders Place Their Bets

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the company'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 completion of the sale, the insider now directly owns 1,072,850 shares in the company, valued at $24,954,491. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.

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