Short Interest in Genesco Inc. (NYSE:GCO) Drops By 6.1%

Genesco Inc. (NYSE:GCO) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 866,000 shares, a drop of 6.1% from the July 15th total of 922,500 shares. Based on an average daily volume of 144,300 shares, the short-interest ratio is presently 6.0 days. Approximately 8.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th.

Genesco Stock Down 0.8 %

Shares of NYSE:GCO opened at $30.07 on Wednesday. The firm has a market capitalization of $349.59 million, a P/E ratio of -15.42 and a beta of 2.42. 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 stock has a 50 day moving average price of $26.76 and a 200-day moving average price of $27.26. Genesco has a 52-week low of $23.21 and a 52-week high of $37.89.

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

Institutional Investors Weigh In On Genesco

Several hedge funds have recently bought and sold shares of GCO. Pzena Investment Management LLC lifted its holdings in shares of Genesco by 64.1% during the second quarter. Pzena Investment Management LLC now owns 1,221,342 shares of the company’s stock valued at $31,584,000 after purchasing an additional 477,166 shares during the last quarter. Gate City Capital Management LLC purchased a new position in Genesco during the fourth quarter valued at $5,162,000. Acadian Asset Management LLC raised its stake in Genesco by 57.3% during the second quarter. Acadian Asset Management LLC now owns 271,394 shares of the company’s stock valued at $7,016,000 after buying an additional 98,901 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Genesco by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 715,076 shares of the company’s stock worth $25,179,000 after acquiring an additional 33,157 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake 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 acquiring an additional 31,456 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.

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.