Genesco (NYSE:GCO) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of Genesco (NYSE:GCO - Free Report) in a report released on Wednesday, Marketbeat.com reports. The brokerage issued a hold rating and a $23.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Genesco from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Jefferies Financial Group reissued a "hold" rating and set a $24.00 target price (down from $27.00) on shares of Genesco in a report on Wednesday, May 21st.

Genesco Stock Up 0.4%

Shares of Genesco stock traded up $0.08 during trading on Wednesday, reaching $21.79. The company had a trading volume of 236,008 shares, compared to its average volume of 214,508. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. 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 $20.59 and its 200-day moving average is $31.18. The company has a market cap of $234.90 million, a price-to-earnings ratio of -8.97 and a beta of 2.14.

Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.05). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The firm 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 earned $2.59 earnings per share. On average, analysts anticipate that Genesco will post 0.94 EPS for the current year.

Insider Buying and Selling at Genesco

In other news, Director Gregory A. Sandfort purchased 10,974 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the transaction, the director now owns 26,754 shares of the company's stock, valued at approximately $613,201.68. The trade was a 69.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the insider now directly owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. 7.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Genesco by 23.9% in the first quarter. Vanguard Group Inc. now owns 899,123 shares of the company's stock valued at $19,088,000 after purchasing an additional 173,255 shares during the period. Nomura Holdings Inc. acquired a new stake in Genesco in the 1st quarter valued at approximately $16,163,000. Portolan Capital Management LLC bought a new stake in Genesco during the 4th quarter valued at $19,847,000. Marshall Wace LLP raised its stake in Genesco by 28.6% during the 4th quarter. Marshall Wace LLP now owns 428,143 shares of the company's stock valued at $18,303,000 after acquiring an additional 95,195 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Genesco by 14.6% during the 1st quarter. Acadian Asset Management LLC now owns 411,289 shares of the company's stock worth $8,729,000 after acquiring an additional 52,391 shares during the period. 94.51% of the stock is owned by institutional investors and hedge funds.

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.