Genesco Inc. (NYSE:GCO) Major Shareholder Sells $248,760.00 in Stock

Genesco Inc. (NYSE:GCO - Get Free Report) major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $20.73, for a total value of $248,760.00. Following the transaction, the insider now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Genesco Price Performance

Genesco stock traded down $2.47 during midday trading on Thursday, hitting $19.68. 214,542 shares of the company's stock were exchanged, compared to its average volume of 184,223. The stock has a 50-day moving average price of $32.62 and a two-hundred day moving average price of $33.39. Genesco Inc. has a 52-week low of $18.40 and a 52-week high of $44.80. The company has a market cap of $217.23 million, a P/E ratio of -8.10 and a beta of 2.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56.

Genesco (NYSE:GCO - Get Free Report) last issued its quarterly earnings data on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.05). The business had revenue of $745.95 million for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $2.59 EPS. On average, equities research analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current year.

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Institutional Trading of Genesco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC increased its stake in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company's stock valued at $50,000 after acquiring an additional 657 shares during the last quarter. Martingale Asset Management L P bought a new position in shares of Genesco during the 3rd quarter valued at about $842,000. Centiva Capital LP raised its holdings in shares of Genesco by 4.3% during the 3rd quarter. Centiva Capital LP now owns 8,755 shares of the company's stock valued at $238,000 after buying an additional 357 shares in the last quarter. Point72 DIFC Ltd lifted its position in Genesco by 1,627.4% in the 3rd quarter. Point72 DIFC Ltd now owns 1,641 shares of the company's stock worth $45,000 after buying an additional 1,546 shares during the last quarter. Finally, State Street Corp boosted its stake in Genesco by 2.1% in the third quarter. State Street Corp now owns 320,691 shares of the company's stock worth $8,713,000 after buying an additional 6,587 shares in the last quarter. Hedge funds and other institutional investors own 94.51% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Genesco from a "buy" rating to a "hold" rating in a research note on Friday, March 7th.

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.