Arrowstreet Capital Limited Partnership cut its position in Genesco Inc. (NYSE:GCO - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,790 shares of the company's stock after selling 50,902 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.10% of Genesco worth $10,080,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Versor Investments LP bought a new stake in shares of Genesco in the fourth quarter valued at $543,000. American Century Companies Inc. raised its stake in shares of Genesco by 25.3% in the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company's stock valued at $11,833,000 after buying an additional 55,977 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Genesco in the fourth quarter valued at $479,000. Franklin Resources Inc. raised 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 valued at $313,000 after buying an additional 859 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Genesco by 124.9% in the third quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company's stock valued at $6,824,000 after buying an additional 139,485 shares during the period. 94.51% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director Gregory A. Sandfort acquired 10,974 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the acquisition, the director now owns 26,754 shares of the company's stock, valued at $613,201.68. This trade represents a 69.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the company's 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 owns 1,097,850 shares of the company's stock, valued at $22,758,430.50. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.09% of the stock is owned by company insiders.
Genesco Stock Performance
Shares of NYSE GCO traded down $1.27 during mid-day trading on Thursday, hitting $19.15. The company had a trading volume of 64,413 shares, compared to its average volume of 195,517. The company has a market capitalization of $211.38 million, a price-to-earnings ratio of -7.88 and a beta of 2.25. Genesco Inc. has a 1 year low of $16.19 and a 1 year high of $44.80. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $29.28 and its 200-day moving average price is $32.93.
Genesco (NYSE:GCO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $745.95 million during the quarter, compared to analysts' expectations of $780.43 million. During the same quarter last year, the firm posted $2.59 earnings per share. On average, sell-side analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded Genesco from a "hold" rating to a "buy" rating in a research report on Monday.
Check Out Our Latest Stock Analysis on GCO
Genesco Company Profile
(
Free Report)
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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