Genesco Inc. (NYSE:GCO) Sees Significant Decline in Short Interest

Genesco Inc. (NYSE:GCO) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 443,700 shares, a decrease of 9.6% from the November 15th total of 490,800 shares. Based on an average daily volume of 153,800 shares, the short-interest ratio is currently 2.9 days. Approximately 4.3% of the shares of the company are sold short.

Institutional Trading of Genesco

A number of hedge funds and other institutional investors have recently modified their holdings of GCO. American Century Companies Inc. raised its stake in Genesco by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock valued at $4,062,000 after purchasing an additional 26,436 shares during the period. Acadian Asset Management LLC grew its holdings in Genesco by 57.3% during the 2nd quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after buying an additional 98,901 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Genesco by 166.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 34,275 shares of the company’s stock valued at $931,000 after buying an additional 21,410 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Genesco by 139.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,279 shares of the company’s stock worth $986,000 after buying an additional 21,158 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of Genesco during the third quarter worth $842,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

Genesco Stock Performance

NYSE:GCO opened at $43.19 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 1.56. The stock has a 50-day simple moving average of $31.41 and a two-hundred day simple moving average of $28.70. The firm has a market capitalization of $484.59 million, a PE ratio of -17.77 and a beta of 2.47. Genesco has a 52-week low of $23.21 and a 52-week high of $44.34.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, December 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.31. The company had revenue of $596.30 million during the quarter, compared to the consensus estimate of $577.73 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Analysts forecast that Genesco will post 0.81 EPS for the current year.

Genesco Company Profile

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.