Penn Capital Management Company LLC Invests $531,000 in Genesco Inc. $GCO

Penn Capital Management Company LLC acquired a new stake in shares of Genesco Inc. (NYSE:GCO) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 15,727 shares of the company’s stock, valued at approximately $531,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC bought a new stake in Genesco during the 2nd quarter worth approximately $3,148,000. Public Employees Retirement System of Ohio acquired a new stake in Genesco during the 2nd quarter worth approximately $680,000. Bank of America Corp DE bought a new position in Genesco in the second quarter valued at approximately $331,000. Fund 1 Investments LLC lifted its stake in Genesco by 43.4% in the second quarter. Fund 1 Investments LLC now owns 609,963 shares of the company’s stock valued at $20,598,000 after buying an additional 184,653 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of Genesco in the second quarter valued at approximately $419,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gregory A. Sandfort purchased 2,958 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was purchased at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director directly owned 29,172 shares in the company, valued at $986,013.60. The trade was a 11.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.11% of the stock is currently owned by corporate insiders.

Genesco Trading Up 0.8%

Shares of Genesco stock opened at $33.26 on Friday. The stock has a market cap of $369.52 million, a P/E ratio of 19.23 and a beta of 1.83. The company has a quick ratio of 0.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Genesco Inc. has a 12-month low of $21.92 and a 12-month high of $43.60. The business’s 50 day moving average is $35.60 and its 200-day moving average is $33.17.

Genesco (NYSE:GCO) last issued its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The business had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.32 million. Equities research analysts predict that Genesco Inc. will post 2.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GCO shares. Truist Financial set a $40.00 price objective on shares of Genesco in a research report on Friday, May 29th. Seaport Research Partners cut shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Wall Street Zen cut Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Zacks Research downgraded Genesco from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.67.

Genesco Company Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.