Rocky Brands, Inc. (NASDAQ:RCKY) Short Interest Update

Rocky Brands, Inc. (NASDAQ:RCKY) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 96,600 shares, a growth of 22.6% from the January 15th total of 78,800 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 43,200 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On Rocky Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Rocky Brands by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker’s stock worth $97,000 after buying an additional 1,007 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Rocky Brands by 9.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock worth $210,000 after purchasing an additional 820 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rocky Brands during the 3rd quarter worth about $224,000. Voya Investment Management LLC raised its position in shares of Rocky Brands by 43.9% during the 4th quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker’s stock worth $231,000 after purchasing an additional 3,091 shares during the last quarter. Finally, Yarger Wealth Strategies LLC raised its position in shares of Rocky Brands by 6.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock worth $248,000 after purchasing an additional 614 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Trading Down 0.8 %

Shares of Rocky Brands stock traded down $0.18 on Friday, hitting $23.81. 16,060 shares of the company traded hands, compared to its average volume of 39,575. The stock’s 50 day moving average price is $23.59 and its 200-day moving average price is $26.08. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. Rocky Brands has a 52 week low of $19.65 and a 52 week high of $40.14. The company has a market cap of $177.38 million, a PE ratio of 13.38 and a beta of 2.10.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Tuesday, December 3rd. Rocky Brands’s payout ratio is 34.83%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RCKY. Robert W. Baird lowered their price target on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com lowered Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, February 8th.

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.