Trexquant Investment LP Acquires Shares of 13,156 Rocky Brands, Inc. $RCKY

Key Points

• Trexquant Investment LP acquired 13,156 shares of Rocky Brands, Inc. valued at approximately $229,000, representing 0.18% ownership of the company by the end of the first quarter.
• Multiple institutional investors, including GAMMA Investing LLC and Bank of America Corp, have significantly increased their stakes in Rocky Brands, indicating strong interest and confidence in the company's performance.
• Rocky Brands recently announced a quarterly dividend of $0.155 per share with a yield of 2.1%, alongside a strong "Strong Buy" rating from several equities analysts, improving its target price to $40.00.

Trexquant Investment LP acquired a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,156 shares of the textile maker's stock, valued at approximately $229,000. Trexquant Investment LP owned 0.18% of Rocky Brands at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Rocky Brands by 20,076.9% during the first quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock valued at $91,000 after buying an additional 5,220 shares during the period. Bank of America Corp DE lifted its position in Rocky Brands by 51.8% during the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock valued at $202,000 after buying an additional 3,025 shares during the period. Yarger Wealth Strategies LLC lifted its position in Rocky Brands by 8.2% during the first quarter. Yarger Wealth Strategies LLC now owns 11,767 shares of the textile maker's stock valued at $204,000 after buying an additional 894 shares during the period. Voya Investment Management LLC lifted its position in Rocky Brands by 43.9% during the fourth quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker's stock valued at $231,000 after buying an additional 3,091 shares during the period. Finally, Two Sigma Investments LP lifted its position in Rocky Brands by 3.6% during the fourth quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker's stock valued at $298,000 after buying an additional 459 shares during the period. Hedge funds and other institutional investors own 75.06% of the company's stock.

Insiders Place Their Bets

In other Rocky Brands news, Director G Courtney Haning sold 5,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total value of $155,000.00. Following the transaction, the director owned 19,482 shares of the company's stock, valued at approximately $603,942. This represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tracie A. Winbigler sold 5,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the completion of the transaction, the director directly owned 6,978 shares in the company, valued at approximately $208,991.10. This represents a 41.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,000 shares of company stock valued at $754,400. 5.10% of the stock is currently owned by corporate insiders.

Rocky Brands Trading Down 1.7%

Rocky Brands stock opened at $29.17 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. Rocky Brands, Inc. has a one year low of $11.93 and a one year high of $33.04. The stock has a market capitalization of $217.90 million, a PE ratio of 11.76 and a beta of 2.41. The business's fifty day moving average is $26.14 and its 200 day moving average is $21.45.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.24 by $0.31. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.The company had revenue of $105.65 million for the quarter, compared to analysts' expectations of $102.54 million.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.1%. Rocky Brands's dividend payout ratio (DPR) is 25.00%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RCKY shares. Baird R W raised Rocky Brands from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Robert W. Baird raised Rocky Brands from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $30.00 to $40.00 in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Rocky Brands has an average rating of "Strong Buy" and a consensus target price of $40.00.

Rocky Brands Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.

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