Genesco Inc. (NYSE:GCO) Short Interest Update

Genesco Inc. (NYSE:GCO) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 927,800 shares, a growth of 7.1% from the July 31st total of 866,000 shares. Based on an average daily volume of 147,200 shares, the days-to-cover ratio is presently 6.3 days. Currently, 8.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Genesco

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Genesco in the second quarter worth $27,000. Allspring Global Investments Holdings LLC increased its position in Genesco by 4,977.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock valued at $95,000 after acquiring an additional 3,584 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Genesco in the second quarter valued at $113,000. Jump Financial LLC bought a new stake in shares of Genesco in the 4th quarter worth about $250,000. Finally, Summit Global Investments purchased a new position in shares of Genesco during the 4th quarter worth about $340,000. 94.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Genesco from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th.

Genesco Trading Down 1.2 %

GCO stock opened at $30.19 on Tuesday. The company has a market capitalization of $350.99 million, a price-to-earnings ratio of -15.48 and a beta of 2.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.65 and a quick ratio of 0.37. Genesco has a 1-year low of $23.21 and a 1-year high of $37.89. The business has a 50 day simple moving average of $27.82 and a two-hundred day simple moving average of $27.30.

Genesco (NYSE:GCO) last issued its earnings results on Friday, May 31st. The company reported ($2.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.66) by $0.56. Genesco had a positive return on equity of 0.40% and a negative net margin of 0.97%. The firm had revenue of $457.60 million for the quarter, compared to analysts’ expectations of $445.66 million. During the same period in the previous year, the firm posted ($1.59) earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. Research analysts anticipate that Genesco will post 0.81 EPS for the current fiscal year.

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.