Insider Selling: Genesco Inc. (NYSE:GCO) Major Shareholder Sells 12,000 Shares of Stock

Genesco Inc. (NYSE:GCO) major shareholder Fund 1 Investments, Llc sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $20.73, for a total value of $248,760.00. Following the completion of the transaction, the insider now directly owns 1,097,850 shares in the company, valued at $22,758,430.50. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Genesco Stock Performance

Shares of Genesco stock traded up $0.28 during trading on Monday, reaching $21.21. The company’s stock had a trading volume of 325,129 shares, compared to its average volume of 183,088. Genesco Inc. has a 52 week low of $20.09 and a 52 week high of $44.80. The firm has a market cap of $237.75 million, a PE ratio of -8.73 and a beta of 2.41. The business’s 50-day moving average price is $33.82 and its 200-day moving average price is $33.52. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The business had revenue of $745.95 million during the quarter, compared to the consensus estimate of $780.43 million. During the same period in the prior year, the firm earned $2.59 EPS. Equities analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Genesco from a “buy” rating to a “hold” rating in a research note on Friday, March 7th.

Institutional Investors Weigh In On Genesco

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its holdings in Genesco by 54.9% in the 3rd quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares in the last quarter. Martingale Asset Management L P acquired a new position in Genesco in the third quarter valued at about $842,000. Centiva Capital LP lifted its position in Genesco by 4.3% during the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after purchasing an additional 357 shares during the period. Point72 DIFC Ltd grew its stake in Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock worth $45,000 after buying an additional 1,546 shares in the last quarter. Finally, State Street Corp increased its holdings in Genesco by 2.1% in the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock valued at $8,713,000 after buying an additional 6,587 shares during the period. Institutional investors and hedge funds 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.