Insider Selling: Genesco Inc. (NYSE:GCO) Director Sells 2,000 Shares of Stock

Genesco Inc. (NYSE:GCO) Director Thurgood Marshall, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $39.15, for a total transaction of $78,300.00. Following the completion of the transaction, the director now directly owns 14,277 shares in the company, valued at approximately $558,944.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE GCO opened at $37.28 on Thursday. Genesco Inc. has a 12 month low of $5.51 and a 12 month high of $45.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.35 and a quick ratio of 0.49. The firm has a market capitalization of $558.90 million, a PE ratio of -4.73 and a beta of 2.14. The company’s 50 day simple moving average is $30.70 and its 200 day simple moving average is $23.17.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, December 3rd. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.99. Genesco had a negative net margin of 6.06% and a negative return on equity of 2.50%. The business had revenue of $479.30 million for the quarter, compared to analyst estimates of $457.21 million. During the same quarter last year, the business earned $1.33 earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. Sell-side analysts anticipate that Genesco Inc. will post -2.17 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in Genesco by 14.7% during the second quarter. Public Employees Retirement System of Ohio now owns 5,884 shares of the company’s stock worth $127,000 after buying an additional 752 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Genesco by 4.5% during the third quarter. California Public Employees Retirement System now owns 33,816 shares of the company’s stock worth $728,000 after buying an additional 1,461 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Genesco by 170.6% during the third quarter. BNP Paribas Arbitrage SA now owns 3,691 shares of the company’s stock worth $80,000 after buying an additional 2,327 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Genesco during the third quarter worth approximately $51,000. Finally, Morgan Stanley boosted its holdings in Genesco by 6.2% during the third quarter. Morgan Stanley now owns 45,817 shares of the company’s stock worth $986,000 after buying an additional 2,683 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Several equities research analysts have commented on the stock. ValuEngine lowered shares of Genesco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 10th. CL King raised their price target on shares of Genesco from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 27th. Zacks Investment Research upgraded shares of Genesco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 4th. Finally, Pivotal Research raised their price target on shares of Genesco from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.60.

Genesco Company Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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