Genesco Inc. (NYSE:GCO) Sees Large Increase in Short Interest

Genesco Inc. (NYSE:GCO - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,310,000 shares, a growth of 34.9% from the March 31st total of 971,300 shares. Currently, 13.0% of the company's stock are sold short. Based on an average daily volume of 350,300 shares, the days-to-cover ratio is presently 3.7 days.

Insiders Place Their Bets

In other news, Director Gregory A. Sandfort purchased 10,974 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the transaction, the director now directly owns 26,754 shares of the company's stock, valued at approximately $613,201.68. The trade was a 69.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $20.73, for a total transaction of $248,760.00. Following the transaction, the insider now owns 1,097,850 shares of the company's stock, valued at approximately $22,758,430.50. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genesco

Several institutional investors and hedge funds have recently modified their holdings of GCO. Barclays PLC lifted its holdings in shares of Genesco by 103.1% during the third quarter. Barclays PLC now owns 20,730 shares of the company's stock valued at $563,000 after purchasing an additional 10,521 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Genesco by 1.3% in the third quarter. Geode Capital Management LLC now owns 247,193 shares of the company's stock worth $6,718,000 after acquiring an additional 3,157 shares during the period. Franklin Resources Inc. raised its holdings in shares of Genesco by 8.4% during the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company's stock valued at $313,000 after purchasing an additional 859 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Genesco by 124.9% during the third quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company's stock valued at $6,824,000 after purchasing an additional 139,485 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Genesco in the fourth quarter worth approximately $111,000. 94.51% of the stock is currently owned by institutional investors.

Genesco Stock Up 7.7 %

NYSE GCO traded up $1.54 during trading hours on Thursday, hitting $21.61. The company's stock had a trading volume of 143,424 shares, compared to its average volume of 208,181. The company has a market capitalization of $238.53 million, a PE ratio of -8.89 and a beta of 2.14. Genesco has a 52 week low of $16.19 and a 52 week high of $44.80. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The company's 50-day simple moving average is $21.39 and its two-hundred day simple moving average is $31.76.

Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings data on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.05). Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The company had revenue of $745.95 million during the quarter, compared to the consensus estimate of $780.43 million. During the same period in the prior year, the firm posted $2.59 EPS. Research analysts anticipate that Genesco will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Genesco from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th.

Genesco Company 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.