Royce & Associates LP Sells 57,039 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Royce & Associates LP reduced its position in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 23.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 190,110 shares of the textile maker's stock after selling 57,039 shares during the period. Royce & Associates LP owned about 2.55% of Rocky Brands worth $6,057,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Rocky Brands by 59.5% during the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker's stock worth $97,000 after purchasing an additional 1,332 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Rocky Brands by 39.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,518 shares of the textile maker's stock valued at $638,000 after acquiring an additional 6,646 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rocky Brands during the 2nd quarter valued at approximately $149,000. Bank of New York Mellon Corp increased its holdings in Rocky Brands by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker's stock worth $2,637,000 after acquiring an additional 2,962 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Rocky Brands by 24.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 132,009 shares of the textile maker's stock worth $4,879,000 after acquiring an additional 25,573 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Price Performance

RCKY traded down $0.33 on Monday, hitting $20.63. 38,708 shares of the company's stock were exchanged, compared to its average volume of 41,336. The firm has a 50-day moving average price of $27.79 and a 200-day moving average price of $31.88. The company has a current ratio of 2.79, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market cap of $153.78 million, a price-to-earnings ratio of 11.78 and a beta of 2.13. Rocky Brands, Inc. has a fifty-two week low of $19.65 and a fifty-two week high of $40.14.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.77 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.22). Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The company had revenue of $114.55 million for the quarter.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RCKY. StockNews.com lowered shares of Rocky Brands from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Robert W. Baird dropped their price target on shares of Rocky Brands from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.