StockNews.com Downgrades Genesco (NYSE:GCO) to Hold

StockNews.com downgraded shares of Genesco (NYSE:GCO) from a buy rating to a hold rating in a research report report published on Tuesday.

Genesco Stock Performance

Shares of Genesco stock opened at $17.86 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. Genesco has a 12 month low of $16.19 and a 12 month high of $44.80. The business has a fifty day simple moving average of $27.53 and a 200-day simple moving average of $32.69. The stock has a market cap of $197.08 million, a PE ratio of -7.35 and a beta of 2.25.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.05). The firm had revenue of $745.95 million during the quarter, compared to the consensus estimate of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same period in the previous year, the firm posted $2.59 EPS. On average, sell-side analysts anticipate that Genesco will post 0.94 EPS for the current fiscal year.

Insider Transactions at Genesco

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Genesco in the 4th quarter valued at $35,000. SG Americas Securities LLC bought a new position in Genesco in the fourth quarter valued at approximately $111,000. GAMMA Investing LLC increased its holdings in Genesco by 7,348.3% during the first quarter. GAMMA Investing LLC now owns 8,938 shares of the company’s stock worth $190,000 after buying an additional 8,818 shares during the last quarter. Summit Global Investments acquired a new position in shares of Genesco during the 1st quarter worth about $204,000. Finally, Bayesian Capital Management LP acquired a new position in Genesco during the fourth quarter worth approximately $234,000. 94.51% of the stock is currently owned by institutional investors.

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.