Portolan Capital Management LLC Buys Shares of 464,265 Genesco Inc. (NYSE:GCO)

Portolan Capital Management LLC acquired a new stake in shares of Genesco Inc. (NYSE:GCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 464,265 shares of the company's stock, valued at approximately $19,847,000. Genesco accounts for about 1.3% of Portolan Capital Management LLC's holdings, making the stock its 23rd largest holding. Portolan Capital Management LLC owned 4.14% of Genesco as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GCO. SG Americas Securities LLC purchased a new position in Genesco during the fourth quarter worth about $111,000. Wells Fargo & Company MN boosted its position in shares of Genesco by 28.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,846 shares of the company's stock worth $250,000 after acquiring an additional 1,281 shares during the last quarter. Inceptionr LLC purchased a new stake in Genesco in the fourth quarter valued at approximately $264,000. Massachusetts Financial Services Co. MA acquired a new position in Genesco during the fourth quarter worth approximately $340,000. Finally, Franklin Resources Inc. raised its stake in Genesco by 8.4% during the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company's stock worth $313,000 after purchasing an additional 859 shares during the period. Institutional investors and hedge funds own 94.51% of the company's stock.

Genesco Trading Up 6.4 %

Shares of Genesco stock traded up $1.14 during trading hours on Friday, hitting $18.99. The company's stock had a trading volume of 327,582 shares, compared to its average volume of 203,386. The business has a fifty day moving average of $26.25 and a 200 day moving average of $32.48. Genesco Inc. has a 1-year low of $16.19 and a 1-year high of $44.80. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $209.60 million, a PE ratio of -7.81 and a beta of 2.25.

Genesco (NYSE:GCO - Get Free Report) last released 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). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The company had revenue of $745.95 million during the quarter, compared to analysts' expectations of $780.43 million. During the same period last year, the business earned $2.59 earnings per share. As a group, equities analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Insider Buying and Selling at Genesco

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Genesco from a "buy" rating to a "hold" rating in a research note on Tuesday.

Genesco 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.