Weyco Group (NASDAQ:WEYS) Downgraded by StockNews.com to “Buy”

Weyco Group (NASDAQ:WEYS) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Weyco Group Stock Performance

Shares of WEYS stock traded down $2.54 during trading on Thursday, hitting $38.50. 29,898 shares of the company were exchanged, compared to its average volume of 11,156. The firm has a market capitalization of $365.37 million, a price-to-earnings ratio of 12.18 and a beta of 0.71. The business’s 50-day simple moving average is $33.84 and its 200 day simple moving average is $31.86. Weyco Group has a twelve month low of $24.47 and a twelve month high of $41.05.

Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.59 EPS for the quarter. The business had revenue of $63.93 million during the quarter. Weyco Group had a net margin of 10.04% and a return on equity of 12.31%.

Insider Buying and Selling

In other Weyco Group news, insider Damian Walton sold 1,340 shares of Weyco Group stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $32.50, for a total value of $43,550.00. Following the completion of the sale, the insider now directly owns 7,030 shares in the company, valued at $228,475. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 3,078 shares of company stock worth $102,351. 38.90% of the stock is owned by company insiders.

Institutional Trading of Weyco Group

A number of institutional investors have recently added to or reduced their stakes in WEYS. Janney Montgomery Scott LLC lifted its stake in shares of Weyco Group by 3.3% in the third quarter. Janney Montgomery Scott LLC now owns 23,432 shares of the textile maker’s stock worth $798,000 after buying an additional 757 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Weyco Group in the second quarter worth $25,000. First Business Financial Services Inc. increased its position in Weyco Group by 8.3% during the third quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock worth $446,000 after acquiring an additional 1,000 shares during the period. O Shaughnessy Asset Management LLC increased its position in Weyco Group by 5.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,352 shares of the textile maker’s stock worth $713,000 after acquiring an additional 1,212 shares during the period. Finally, Renaissance Technologies LLC increased its position in Weyco Group by 4.9% during the second quarter. Renaissance Technologies LLC now owns 27,726 shares of the textile maker’s stock worth $841,000 after acquiring an additional 1,300 shares during the period. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Weyco Group Company Profile

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.