Short Interest in Genesco Inc. (NYSE:GCO) Expands By 37.1%

Genesco Inc. (NYSE:GCO - Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 971,300 shares, an increase of 37.1% from the March 15th total of 708,600 shares. Based on an average trading volume of 327,200 shares, the short-interest ratio is currently 3.0 days. Approximately 9.5% of the shares of the company are short sold.

Genesco Price Performance

Shares of Genesco stock traded up $0.45 during midday trading on Wednesday, reaching $19.80. The company had a trading volume of 279,018 shares, compared to its average volume of 206,274. The stock has a fifty day simple moving average of $25.46 and a 200 day simple moving average of $32.41. Genesco 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 company has a market capitalization of $218.55 million, a price-to-earnings ratio of -8.15 and a beta of 2.25.

Genesco (NYSE:GCO - Get Free Report) last released its earnings results on Friday, March 7th. The company reported $3.26 earnings per share for the quarter, missing analysts' consensus estimates of $3.31 by ($0.05). The firm had revenue of $745.95 million for the quarter, compared to the consensus estimate of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same quarter in the previous year, the firm earned $2.59 EPS. As a group, equities research analysts forecast that Genesco will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Genesco from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort bought 10,974 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 26,754 shares of the company's stock, valued at $613,201.68. This represents a 69.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $20.73, for a total value of $248,760.00. Following the transaction, the insider now owns 1,097,850 shares of the company's stock, valued at $22,758,430.50. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.09% of the company's stock.

Institutional Investors Weigh In On Genesco

Several institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Genesco in the fourth quarter valued at about $35,000. SG Americas Securities LLC acquired a new position in Genesco during the fourth quarter valued at approximately $111,000. GAMMA Investing LLC increased its stake in Genesco by 7,348.3% in the first quarter. GAMMA Investing LLC now owns 8,938 shares of the company's stock valued at $190,000 after purchasing an additional 8,818 shares in the last quarter. Summit Global Investments acquired a new stake in Genesco in the first quarter worth $204,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Genesco in the 4th quarter valued at $234,000. Institutional investors and hedge funds 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.