Bridgeway Capital Management LLC Reduces Stake in Genesco Inc. (NYSE:GCO)

Bridgeway Capital Management LLC cut its position in shares of Genesco Inc. (NYSE:GCO) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,201 shares of the company’s stock after selling 6,347 shares during the quarter. Bridgeway Capital Management LLC owned 0.87% of Genesco worth $4,155,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Genesco in the fourth quarter valued at about $111,000. Bayesian Capital Management LP purchased a new stake in Genesco in the 4th quarter worth approximately $234,000. Wells Fargo & Company MN grew its stake in Genesco by 28.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock worth $250,000 after acquiring an additional 1,281 shares during the period. Inceptionr LLC acquired a new position in Genesco in the 4th quarter valued at $264,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Genesco during the 4th quarter worth $340,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Genesco Trading Up 1.3 %

NYSE GCO opened at $20.10 on Thursday. The company has a 50-day moving average of $21.39 and a 200-day moving average of $31.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80. The company has a market cap of $221.86 million, a P/E ratio of -8.27 and a beta of 2.14.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Genesco from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th.

Insider Activity

In related news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction 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 sale, the insider now owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory A. Sandfort acquired 10,974 shares of Genesco stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the purchase, the director now directly owns 26,754 shares in the company, valued at $613,201.68. The trade was a 69.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.09% 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.