Short Interest in Genesco Inc. (NYSE:GCO) Grows By 8.6%

Genesco Inc. (NYSE:GCO) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 517,600 shares, a growth of 8.6% from the January 15th total of 476,500 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average daily volume of 194,300 shares, the short-interest ratio is presently 2.7 days.

Genesco Price Performance

Shares of Genesco stock traded down $0.02 during trading on Tuesday, reaching $40.88. The company’s stock had a trading volume of 4,085 shares, compared to its average volume of 205,369. The stock has a 50-day moving average price of $41.58 and a two-hundred day moving average price of $33.52. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. Genesco has a one year low of $23.21 and a one year high of $44.80. The stock has a market capitalization of $458.21 million, a P/E ratio of -16.82 and a beta of 2.35.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.31. The firm had revenue of $596.30 million during the quarter, compared to analysts’ expectations of $577.73 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. As a group, sell-side analysts anticipate that Genesco will post 0.94 EPS for the current fiscal year.

Insider Activity

In related news, VP Daniel E. Ewoldsen sold 4,000 shares of Genesco stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total value 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 $1,765,159.44. The trade was a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.09% of the stock is owned by corporate insiders.

Institutional Trading of Genesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. bought a new stake in Genesco during the 4th quarter worth about $361,000. State of Wyoming bought a new stake in Genesco during the 4th quarter worth about $242,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Genesco in the 4th quarter valued at about $35,000. Occudo Quantitative Strategies LP bought a new stake in shares of Genesco in the 4th quarter valued at about $356,000. Finally, Lazard Asset Management LLC increased its stake in shares of Genesco by 272.3% in the 4th quarter. Lazard Asset Management LLC now owns 35,114 shares of the company’s stock valued at $1,501,000 after acquiring an additional 25,682 shares during the last quarter. 94.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.