Fund 1 Investments, Llc Sells 25,000 Shares of Genesco Inc. (NYSE:GCO) Stock

Genesco Inc. (NYSE:GCO) major shareholder Fund 1 Investments, Llc sold 25,000 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $23.26, for a total value of $581,500.00. Following the sale, the insider now directly owns 1,072,850 shares in the company, valued at $24,954,491. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

• On Friday, March 28th, Fund 1 Investments, Llc sold 12,000 shares of Genesco stock. The shares were sold at an average price of $20.73, for a total value of $248,760.00.

Genesco Trading Up 0.1%

Shares of NYSE:GCO opened at $22.71 on Friday. The stock has a market capitalization of $244.81 million, a price-to-earnings ratio of -9.35 and a beta of 2.17. 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’s 50-day simple moving average is $20.64 and its two-hundred day simple moving average is $30.86. Genesco Inc. has a 52-week low of $16.19 and a 52-week high of $44.80.

Genesco (NYSE:GCO) last announced its earnings results on Wednesday, June 4th. The company reported ($2.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.09) by $0.04. The business had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $463.90 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted ($2.10) earnings per share. Analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GCO. Strs Ohio bought a new position in shares of Genesco in the first quarter worth about $338,000. Acadian Asset Management LLC raised its stake in shares of Genesco by 14.6% in the first quarter. Acadian Asset Management LLC now owns 411,289 shares of the company’s stock worth $8,729,000 after buying an additional 52,391 shares during the period. Empowered Funds LLC raised its stake in shares of Genesco by 5.3% in the first quarter. Empowered Funds LLC now owns 64,783 shares of the company’s stock worth $1,375,000 after buying an additional 3,282 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Genesco in the first quarter worth about $26,000. Finally, Petrus Trust Company LTA bought a new position in shares of Genesco in the first quarter worth about $253,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GCO. Truist Financial increased their price objective on Genesco from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday. Wall Street Zen cut Genesco from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 target price (down previously from $27.00) on shares of Genesco in a report on Wednesday, May 21st.

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.