Cubist Systematic Strategies LLC Reduces Stock Holdings in Genesco Inc. (NYSE:GCO)

Cubist Systematic Strategies LLC decreased its stake in Genesco Inc. (NYSE:GCO) by 60.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,515 shares of the company’s stock after selling 25,373 shares during the period. Cubist Systematic Strategies LLC’s holdings in Genesco were worth $706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GCO. Barclays PLC boosted its holdings in shares of Genesco by 103.1% in the 3rd quarter. Barclays PLC now owns 20,730 shares of the company’s stock worth $563,000 after purchasing an additional 10,521 shares during the period. JPMorgan Chase & Co. boosted its holdings in Genesco by 124.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock valued at $6,824,000 after acquiring an additional 139,485 shares during the period. SG Americas Securities LLC purchased a new position in Genesco during the 4th quarter valued at $111,000. Empowered Funds LLC boosted its holdings in Genesco by 5.0% during the 4th quarter. Empowered Funds LLC now owns 61,501 shares of the company’s stock valued at $2,629,000 after acquiring an additional 2,953 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Genesco by 1.5% during the 4th quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock valued at $818,000 after acquiring an additional 281 shares during the period. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Genesco Price Performance

GCO opened at $24.04 on Friday. The business has a fifty day moving average of $20.52 and a 200 day moving average of $31.56. Genesco Inc. has a 52-week low of $16.19 and a 52-week 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 stock has a market cap of $265.35 million, a P/E ratio of -9.89 and a beta of 2.14.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $745.95 million for the quarter, compared to analysts’ expectations of $780.43 million. During the same quarter in the previous year, the firm earned $2.59 EPS. As a group, sell-side analysts anticipate that Genesco Inc. will post 0.94 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut Genesco from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th.

Insider Buying and Selling at Genesco

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction on Friday, March 28th. The stock was sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory A. Sandfort bought 10,974 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $22.92 per share, with a total value of $251,524.08. Following the completion of the transaction, 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 currently owned by corporate insiders.

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.