Weyco Group, Inc. (NASDAQ:WEYS) Short Interest Update

Weyco Group, Inc. (NASDAQ:WEYS) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 52,200 shares, a growth of 41.5% from the December 15th total of 36,900 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 16,400 shares, the days-to-cover ratio is presently 3.2 days.

Weyco Group Stock Performance

WEYS opened at $35.59 on Thursday. Weyco Group has a twelve month low of $27.05 and a twelve month high of $41.05. The business has a 50 day moving average price of $36.14 and a 200 day moving average price of $34.09. The firm has a market cap of $340.20 million, a P/E ratio of 11.78 and a beta of 0.71.

Weyco Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, November 18th were paid a $2.26 dividend. The ex-dividend date was Monday, November 18th. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a yield of 25.40%. Weyco Group’s dividend payout ratio (DPR) is presently 34.44%.

Insider Buying and Selling at Weyco Group

In other news, insider Damian Walton sold 1,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $38.21, for a total transaction of $38,210.00. Following the transaction, the insider now owns 6,030 shares in the company, valued at $230,406.30. This represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Allison Woss sold 1,463 shares of Weyco Group stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the sale, the vice president now directly owns 7,623 shares of the company’s stock, valued at approximately $288,225.63. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,685 shares of company stock worth $214,730 over the last 90 days. 38.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of Weyco Group by 34.1% in the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock valued at $68,000 after purchasing an additional 511 shares during the last quarter. Barclays PLC grew its holdings in Weyco Group by 263.8% in the 3rd quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock valued at $273,000 after buying an additional 5,803 shares during the last quarter. Ritholtz Wealth Management increased its position in Weyco Group by 23.4% in the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after buying an additional 1,893 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Weyco Group by 72.1% in the third quarter. JPMorgan Chase & Co. now owns 11,912 shares of the textile maker’s stock valued at $405,000 after acquiring an additional 4,990 shares during the period. Finally, First Business Financial Services Inc. boosted its holdings in Weyco Group by 8.3% in the 3rd quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 23.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Weyco Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

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.