Short Interest in Weyco Group, Inc. (NASDAQ:WEYS) Drops By 21.1%

Key Points

• Short interest in Weyco Group fell 21.1% in April to 65,241 shares as of April 15, representing 1.1% of shares outstanding and a short-interest ratio of 5.0 days.
• Wall Street Zen upgraded WEYS from "hold" to "buy" on April 18 and MarketBeat shows a consensus "Buy," while institutional investors own about 23.59% of the stock with several firms recently adjusting positions.
• Weyco trades with a market cap of ~$318.1M and a P/E of 13.85, reported quarterly EPS of $0.91, and pays a quarterly dividend of $0.27 (annualized yield ~3.2% with a ~44.8% payout ratio).

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 65,241 shares, a decline of 21.1% from the March 31st total of 82,636 shares. Based on an average daily trading volume, of 13,099 shares, the short-interest ratio is currently 5.0 days. Currently, 1.1% of the company's shares are sold short.

Institutional Investors Weigh In On Weyco Group

Institutional investors have recently added to or reduced their stakes in the stock. Associated Banc Corp bought a new stake in Weyco Group in the 3rd quarter valued at $1,345,000. Los Angeles Capital Management LLC bought a new stake in Weyco Group in the 4th quarter valued at $72,000. Tower Research Capital LLC TRC lifted its position in Weyco Group by 172.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker's stock valued at $59,000 after acquiring an additional 1,133 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Weyco Group in the 4th quarter valued at $55,000. Finally, BNP Paribas Financial Markets lifted its position in Weyco Group by 107.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker's stock valued at $48,000 after acquiring an additional 832 shares in the last quarter. 23.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Weyco Group from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Weyco Group Trading Down 0.4%

Shares of WEYS stock traded down $0.13 on Thursday, hitting $33.38. The stock had a trading volume of 643 shares, compared to its average volume of 13,716. The firm has a market cap of $318.14 million, a P/E ratio of 13.85 and a beta of 0.89. Weyco Group has a twelve month low of $27.25 and a twelve month high of $35.18. The company has a fifty day moving average price of $32.99 and a two-hundred day moving average price of $31.65.

Weyco Group (NASDAQ:WEYS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The textile maker reported $0.91 EPS for the quarter. The business had revenue of $76.80 million for the quarter. Weyco Group had a net margin of 8.36% and a return on equity of 9.35%.

Weyco Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, March 13th. Weyco Group's payout ratio is currently 44.81%.

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company NASDAQ: WEYS based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men's dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.