Genesco Inc. (NYSE:GCO) Short Interest Update

Genesco Inc. (NYSE:GCO - Get Free Report) was the target of a large growth in short interest in 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 trading volume of 350,300 shares, the days-to-cover ratio is presently 3.7 days.

Insider Activity

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

Institutional Trading of Genesco

Several institutional investors and hedge funds have recently bought and sold shares of GCO. Rhumbline Advisers raised its holdings in shares of Genesco by 1.5% during the fourth quarter. Rhumbline Advisers now owns 19,146 shares of the company's stock worth $818,000 after purchasing an additional 281 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Genesco by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company's stock valued at $616,000 after buying an additional 650 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Genesco by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 33,737 shares of the company's stock valued at $716,000 after buying an additional 702 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Genesco in the 4th quarter valued at about $35,000. Finally, Franklin Resources Inc. boosted its stake in shares of Genesco by 8.4% in the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company's stock worth $313,000 after buying an additional 859 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Genesco Stock Performance

Genesco stock traded up $0.97 during mid-day trading on Friday, reaching $20.45. 164,766 shares of the company traded hands, compared to its average volume of 208,133. Genesco has a fifty-two week low of $16.19 and a fifty-two week high of $44.80. The firm's fifty day moving average is $22.38 and its two-hundred day moving average is $31.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. The company has a market capitalization of $225.73 million, a price-to-earnings ratio of -8.42 and a beta of 2.25.

Genesco (NYSE:GCO - Get Free Report) last issued its earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.31 by ($0.05). The firm had revenue of $745.95 million during the quarter, compared to analysts' expectations of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same quarter last year, the business earned $2.59 EPS. On average, equities research analysts expect that Genesco will post 0.94 earnings per share for the current fiscal year.

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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