Lazard Asset Management LLC Increases Stock Holdings in Genesco Inc. (NYSE:GCO)

Lazard Asset Management LLC lifted its position in Genesco Inc. (NYSE:GCO) by 272.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,114 shares of the company’s stock after buying an additional 25,682 shares during the quarter. Lazard Asset Management LLC owned approximately 0.31% of Genesco worth $1,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GCO. Portolan Capital Management LLC purchased a new stake in shares of Genesco in the fourth quarter worth about $19,847,000. Fund 1 Investments LLC lifted its holdings in shares of Genesco by 1,045.4% in the fourth quarter. Fund 1 Investments LLC now owns 242,965 shares of the company’s stock worth $10,387,000 after buying an additional 221,752 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Genesco by 28.6% in the fourth quarter. Marshall Wace LLP now owns 428,143 shares of the company’s stock worth $18,303,000 after buying an additional 95,195 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Genesco by 25.3% in the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock worth $11,833,000 after buying an additional 55,977 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Genesco in the fourth quarter worth about $1,891,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genesco

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the transaction, the insider now directly owns 1,097,850 shares in the company, valued at $22,758,430.50. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory A. Sandfort purchased 10,974 shares of Genesco stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the transaction, the director now directly owns 26,754 shares of the company’s stock, valued at approximately $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. 7.09% of the stock is currently owned by insiders.

Genesco Trading Up 0.1%

Shares of GCO opened at $24.24 on Monday. The firm’s 50 day simple moving average is $20.60 and its 200 day simple moving average is $31.62. The company has a market capitalization of $267.56 million, a P/E ratio of -9.98 and a beta of 2.14. 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 1-year low of $16.19 and a 1-year high of $44.80.

Genesco (NYSE:GCO) last announced its 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). The company had revenue of $745.95 million during the quarter, compared to analysts’ expectations of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same period in the prior year, the business earned $2.59 earnings per share. Sell-side analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Genesco from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th.

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.