StockNews.com Downgrades Genesco (NYSE:GCO) to Hold

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

Genesco Stock Performance

Shares of NYSE GCO traded up $1.14 during midday trading on Tuesday, reaching $18.99. The company had a trading volume of 327,582 shares, compared to its average volume of 203,386. The stock has a market cap 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 1 year low of $16.19 and a 1 year high of $44.80. The business's 50-day simple moving average is $26.25 and its 200 day simple moving average is $32.48.

Genesco (NYSE:GCO - Get Free Report) last posted 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 firm had revenue of $745.95 million for the quarter, compared to analysts' expectations of $780.43 million. During the same quarter in the previous year, the firm posted $2.59 EPS. On average, analysts forecast that Genesco will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Genesco

In related news, Director Gregory A. Sandfort acquired 10,974 shares of the stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the transaction, the director now owns 26,754 shares in the company, valued at approximately $613,201.68. This trade represents a 69.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the sale, the insider now owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. 7.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genesco

Several large investors have recently bought and sold shares of GCO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Genesco during the fourth quarter worth approximately $35,000. SG Americas Securities LLC purchased a new position in shares of Genesco in the fourth quarter worth about $111,000. GAMMA Investing LLC grew its stake in Genesco by 7,348.3% during the 1st quarter. GAMMA Investing LLC now owns 8,938 shares of the company's stock valued at $190,000 after acquiring an additional 8,818 shares in the last quarter. Summit Global Investments acquired a new stake in Genesco in the 1st quarter valued at about $204,000. Finally, Bayesian Capital Management LP purchased a new position in Genesco in the 4th quarter worth approximately $234,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

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.