Genesco Inc. (NYSE:GCO) Short Interest Up 8.3% in June

Genesco Inc. (NYSE:GCO) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 717,600 shares, an increase of 8.3% from the May 31st total of 662,300 shares. Based on an average trading volume of 137,800 shares, the days-to-cover ratio is presently 5.2 days. Approximately 6.7% of the shares of the stock are short sold.

Genesco Stock Up 4.0 %

Shares of NYSE GCO traded up $0.93 during mid-day trading on Wednesday, reaching $24.38. The company had a trading volume of 88,395 shares, compared to its average volume of 134,704. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 1.65. The company has a market capitalization of $283.54 million, a price-to-earnings ratio of -12.50 and a beta of 2.42. The stock has a fifty day moving average of $25.93 and a two-hundred day moving average of $28.00. Genesco has a 12-month low of $23.21 and a 12-month high of $37.89.

Genesco (NYSE:GCO) last released its earnings results on Friday, May 31st. The company reported ($2.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.66) by $0.56. Genesco had a negative net margin of 0.97% and a positive return on equity of 0.40%. The company had revenue of $457.60 million during the quarter, compared to the consensus estimate of $445.66 million. During the same quarter in the prior year, the firm earned ($1.59) EPS. The company’s revenue was down 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Genesco will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank raised its holdings in shares of Genesco by 108.2% during the 2nd quarter. First Hawaiian Bank now owns 16,680 shares of the company’s stock valued at $431,000 after purchasing an additional 8,670 shares in the last quarter. Empowered Funds LLC raised its holdings in Genesco by 7.9% during the first quarter. Empowered Funds LLC now owns 31,089 shares of the company’s stock valued at $875,000 after buying an additional 2,275 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Genesco by 54.2% during the first quarter. BNP Paribas Financial Markets now owns 36,283 shares of the company’s stock valued at $1,021,000 after buying an additional 12,754 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Genesco by 83.9% in the fourth quarter. GSA Capital Partners LLP now owns 68,943 shares of the company’s stock worth $2,427,000 after buying an additional 31,456 shares during the last quarter. Finally, Gate City Capital Management LLC bought a new stake in shares of Genesco during the 4th quarter worth about $5,162,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GCO shares. B. Riley reiterated a “neutral” rating and set a $31.00 price objective (down from $43.00) on shares of Genesco in a research report on Tuesday, March 5th. StockNews.com upgraded Genesco from a “hold” rating to a “buy” rating in a report on Monday, June 3rd.

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.