Genesco Inc. (NYSE:GCO) Short Interest Down 18.8% in August

Key Points

• Genesco Inc. experienced an 18.8% decrease in short interest in August, with 983,000 shares sold short, representing approximately 10.1% of the company's total shares.
• Analysts have mixed ratings for Genesco, with Zacks Research and Seaport Res Ptn upgrading the stock to "strong-buy," while Wall Street Zen downgraded it to "hold." The overall consensus rating remains at "buy" with an average price target of $30.00.
• For the latest quarter, Genesco reported a revenue of $545.97 million exceeding expectations and had a positive return on equity of 1.75%, despite posting a loss of ($1.14) earnings per share.

Genesco Inc. (NYSE:GCO - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 983,000 shares, a decline of 18.8% from the August 15th total of 1,210,000 shares. Approximately 10.1% of the shares of the company are sold short. Based on an average daily trading volume, of 226,800 shares, the short-interest ratio is presently 4.3 days. Based on an average daily trading volume, of 226,800 shares, the short-interest ratio is presently 4.3 days. Approximately 10.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GCO shares. Truist Financial raised their target price on shares of Genesco from $25.00 to $31.00 and gave the stock a "hold" rating in a research report on Friday, August 29th. Zacks Research raised shares of Genesco from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. Wall Street Zen cut shares of Genesco from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Jefferies Financial Group increased their target price on shares of Genesco from $24.00 to $29.00 and gave the stock a "hold" rating in a research note on Friday, August 29th. Finally, Seaport Res Ptn upgraded Genesco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Genesco has an average rating of "Buy" and a consensus price target of $30.00.

Genesco Price Performance

GCO stock traded down $0.96 on Monday, reaching $32.17. 148,267 shares of the company's stock were exchanged, compared to its average volume of 273,502. The stock has a fifty day moving average of $27.96 and a 200-day moving average of $23.58. The firm has a market cap of $347.44 million, a PE ratio of -13.18 and a beta of 2.22. The company has a quick ratio of 0.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.11. Genesco has a twelve month low of $16.19 and a twelve month high of $44.80.

Genesco (NYSE:GCO - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.11. The company had revenue of $545.97 million for the quarter, compared to analyst estimates of $531.89 million. Genesco had a negative net margin of 1.03% and a positive return on equity of 1.75%. The business's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.83) EPS. Genesco has set its FY 2026 guidance at 1.300-1.700 EPS. As a group, equities analysts predict that Genesco will post 0.94 EPS for the current fiscal year.

Institutional Trading of Genesco

A number of hedge funds have recently bought and sold shares of GCO. Nomura Holdings Inc. acquired a new position in Genesco in the 1st quarter valued at $16,163,000. Pzena Investment Management LLC increased its stake in Genesco by 44.4% in the second quarter. Pzena Investment Management LLC now owns 1,433,190 shares of the company's stock valued at $28,220,000 after purchasing an additional 440,837 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Genesco by 371.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company's stock worth $5,365,000 after buying an additional 214,639 shares during the period. Shay Capital LLC acquired a new stake in Genesco in the 2nd quarter worth about $4,027,000. Finally, Vanguard Group Inc. grew its holdings in Genesco by 23.9% in the 1st quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock valued at $19,088,000 after buying an additional 173,255 shares during the period. Institutional investors and hedge funds own 94.51% 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.