Genesco Inc. (NYSE:GCO) Sees Large Increase in Short Interest

Genesco Inc. (NYSE:GCO - Get Free Report) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 717,600 shares, a growth of 8.3% from the May 31st total of 662,300 shares. Based on an average trading volume of 137,800 shares, the short-interest ratio is presently 5.2 days. Approximately 6.7% of the shares of the stock are sold short.

Genesco Stock Down 3.7 %

NYSE GCO traded down $0.89 on Tuesday, reaching $23.45. The stock had a trading volume of 173,442 shares, compared to its average volume of 135,070. The company has a current ratio of 1.65, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11. Genesco has a 1 year low of $23.21 and a 1 year high of $37.89. The business has a 50 day moving average price of $25.97 and a 200 day moving average price of $28.02. The company has a market capitalization of $272.72 million, a price-to-earnings ratio of -12.03 and a beta of 2.42.

Genesco (NYSE:GCO - Get Free Report) last posted its earnings results on Friday, May 31st. The company reported ($2.10) earnings per share for the quarter, topping the consensus estimate of ($2.66) by $0.56. The firm had revenue of $457.60 million during the quarter, compared to analyst estimates of $445.66 million. Genesco had a positive return on equity of 0.40% and a negative net margin of 0.97%. The company's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.59) EPS. On average, analysts forecast that Genesco will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on GCO. StockNews.com upgraded shares of Genesco from a "hold" rating to a "buy" rating in a report on Monday, June 3rd. B. Riley reiterated a "neutral" rating and set a $31.00 price objective (down from $43.00) on shares of Genesco in a research report on Tuesday, March 5th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GCO. Jacobs Levy Equity Management Inc. raised its position in shares of Genesco by 294.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 231,078 shares of the company's stock valued at $7,122,000 after acquiring an additional 172,425 shares during the last quarter. Gate City Capital Management LLC acquired a new position in shares of Genesco in the 4th quarter valued at approximately $5,162,000. Trexquant Investment LP bought a new stake in Genesco during the 3rd quarter worth approximately $1,628,000. Dimensional Fund Advisors LP increased its stake in Genesco by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 715,076 shares of the company's stock worth $25,179,000 after purchasing an additional 33,157 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Genesco by 83.9% during the 4th quarter. GSA Capital Partners LLP now owns 68,943 shares of the company's stock worth $2,427,000 after buying an additional 31,456 shares during the period. Institutional investors and hedge funds own 94.51% of the company's stock.

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.