Weyco Group (NASDAQ:WEYS) Upgraded by StockNews.com to "Strong-Buy" Rating

Weyco Group (NASDAQ:WEYS - Get Free Report) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Weyco Group Trading Up 2.8 %

WEYS traded up $1.07 on Friday, hitting $38.89. 31,577 shares of the company's stock were exchanged, compared to its average volume of 11,547. The firm has a 50-day moving average price of $34.45 and a 200-day moving average price of $32.24. The stock has a market cap of $369.07 million, a price-to-earnings ratio of 12.88 and a beta of 0.71. Weyco Group has a fifty-two week low of $27.05 and a fifty-two week high of $41.05.

Insider Activity at Weyco Group

In related news, insider Damian Walton sold 1,340 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $32.50, for a total transaction of $43,550.00. Following the sale, the insider now directly owns 7,030 shares in the company, valued at approximately $228,475. This represents a 16.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Judy Anderson sold 2,893 shares of Weyco Group stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $37.98, for a total transaction of $109,876.14. Following the sale, the chief financial officer now directly owns 13,100 shares of the company's stock, valued at approximately $497,538. This trade represents a 18.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,402 shares of company stock worth $304,656 in the last three months. 38.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Weyco Group in the 2nd quarter valued at $25,000. Allspring Global Investments Holdings LLC lifted its position in Weyco Group by 2,329.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the textile maker's stock worth $52,000 after acquiring an additional 1,654 shares during the period. BNP Paribas Financial Markets lifted its position in Weyco Group by 34.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker's stock worth $68,000 after acquiring an additional 511 shares during the period. Barclays PLC grew its position in Weyco Group by 263.8% in the 3rd quarter. Barclays PLC now owns 8,003 shares of the textile maker's stock valued at $273,000 after buying an additional 5,803 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in Weyco Group by 23.4% in the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker's stock valued at $340,000 after buying an additional 1,893 shares during the period. Hedge funds and other institutional investors own 23.59% of the company's stock.

About Weyco Group

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.