Genesco (NYSE:GCO) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Shares of Genesco Inc. (NYSE:GCO - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.28 and traded as high as $40.92. Genesco shares last traded at $40.92, with a volume of 49,478 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Genesco from a "hold" rating to a "buy" rating in a research note on Friday, December 6th.

Genesco Price Performance

The business has a fifty day moving average of $33.39 and a two-hundred day moving average of $29.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. The firm has a market capitalization of $458.80 million, a price-to-earnings ratio of -16.84 and a beta of 2.47.

Genesco (NYSE:GCO - Get Free Report) last announced its earnings results on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.31. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The company had revenue of $596.30 million for the quarter, compared to analyst estimates of $577.73 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Genesco Inc. will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the sale, the vice president now owns 41,358 shares of the company's stock, valued at $1,765,159.44. This represents a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.09% of the stock is owned by insiders.

Institutional Trading of Genesco

Large investors have recently made changes to their positions in the company. Pzena Investment Management LLC raised its stake in Genesco by 64.1% during the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company's stock worth $31,584,000 after acquiring an additional 477,166 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Genesco by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 745,818 shares of the company's stock worth $19,286,000 after purchasing an additional 17,664 shares in the last quarter. State Street Corp lifted its stake in Genesco by 2.1% in the 3rd quarter. State Street Corp now owns 320,691 shares of the company's stock valued at $8,713,000 after purchasing an additional 6,587 shares during the last quarter. Acadian Asset Management LLC boosted its position in Genesco by 57.3% in the second quarter. Acadian Asset Management LLC now owns 271,394 shares of the company's stock valued at $7,016,000 after buying an additional 98,901 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Genesco by 1.3% during the third quarter. Geode Capital Management LLC now owns 247,193 shares of the company's stock worth $6,718,000 after buying an additional 3,157 shares in the last quarter. 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.