Genesco (NYSE:GCO) Stock Rating Lowered by StockNews.com

Genesco (NYSE:GCO - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

Genesco Price Performance

GCO stock traded up $1.14 during mid-day trading on Tuesday, hitting $18.99. The stock had a trading volume of 327,582 shares, compared to its average volume of 203,839. The firm has a fifty day simple moving average of $26.25 and a 200 day simple moving average of $32.52. The firm has a market capitalization of $209.60 million, a P/E ratio of -7.81 and a beta of 2.25. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. Genesco has a 52 week low of $16.19 and a 52 week high of $44.80.

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). The firm had revenue of $745.95 million for the quarter, compared to analyst estimates of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same quarter in the prior year, the firm earned $2.59 earnings per share. As a group, research analysts forecast that Genesco will post 0.94 EPS for the current year.

Insider Buying and Selling

In other Genesco news, 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 value of $248,760.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory A. Sandfort purchased 10,974 shares of Genesco stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. 7.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genesco

Several large investors have recently modified their holdings of GCO. Portolan Capital Management LLC bought a new position in Genesco during the fourth quarter worth $19,847,000. Fund 1 Investments LLC raised its position in shares of Genesco by 1,045.4% in the 4th quarter. Fund 1 Investments LLC now owns 242,965 shares of the company's stock worth $10,387,000 after acquiring an additional 221,752 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Genesco by 124.9% in the 3rd 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. SG Americas Securities LLC boosted its position in shares of Genesco by 4,730.7% during the 1st quarter. SG Americas Securities LLC now owns 125,212 shares of the company's stock valued at $2,658,000 after purchasing an additional 122,620 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Genesco by 28.6% during the fourth quarter. Marshall Wace LLP now owns 428,143 shares of the company's stock worth $18,303,000 after purchasing an additional 95,195 shares during the period. Institutional investors own 94.51% of the company's stock.

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.