Genesco (NYSE:GCO) Downgraded by StockNews.com 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 Friday morning.

Genesco Stock Down 16.4 %

GCO opened at $27.10 on Friday. The business has a 50 day moving average price of $39.79 and a two-hundred day moving average price of $34.23. 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 company has a market cap of $303.81 million, a PE ratio of -11.15 and a beta of 2.41. Genesco has a 52 week low of $23.21 and a 52 week high of $44.80.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.05). The company had revenue of $745.95 million for the quarter, compared to analysts’ expectations 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 prior year, the company earned $2.59 earnings per share. As a group, research analysts anticipate that Genesco will post 0.94 EPS for the current year.

Insider Buying and Selling at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the completion of the transaction, the vice president now directly owns 41,358 shares of the company’s stock, valued at approximately $1,765,159.44. This represents a 8.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genesco

A number of large investors have recently modified their holdings of GCO. Portolan Capital Management LLC purchased a new position in shares of Genesco during the 4th quarter worth approximately $19,847,000. Fund 1 Investments LLC raised its stake in shares of Genesco by 1,045.4% during the 4th quarter. Fund 1 Investments LLC now owns 242,965 shares of the company’s stock worth $10,387,000 after buying an additional 221,752 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Genesco by 124.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock worth $6,824,000 after buying an additional 139,485 shares in the last quarter. Marshall Wace LLP increased its stake in Genesco by 28.6% in the 4th quarter. Marshall Wace LLP now owns 428,143 shares of the company’s stock valued at $18,303,000 after purchasing an additional 95,195 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Genesco by 25.3% in the 4th quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock valued at $11,833,000 after purchasing an additional 55,977 shares in the last quarter. 94.51% of the stock is owned by hedge funds and other 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.