GSA Capital Partners LLP Decreases Position in Genesco Inc. (GCO)
GSA Capital Partners LLP lowered its stake in shares of Genesco Inc. (NYSE:GCO) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,500 shares of the company’s stock after selling 1,900 shares during the period. GSA Capital Partners LLP’s holdings in Genesco were worth $466,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Genesco by 34.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,860 shares of the company’s stock valued at $116,000 after buying an additional 475 shares during the period. Royal Bank of Canada increased its position in Genesco by 261.6% in the second quarter. Royal Bank of Canada now owns 3,641 shares of the company’s stock valued at $234,000 after buying an additional 2,634 shares during the period. Weiss Asset Management LP bought a new position in Genesco during the third quarter valued at approximately $238,000. Municipal Employees Retirement System of Michigan increased its position in Genesco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,640 shares of the company’s stock valued at $253,000 after buying an additional 80 shares during the period. Finally, BlackRock Inc. increased its position in Genesco by 2.4% in the third quarter. BlackRock Inc. now owns 5,974 shares of the company’s stock valued at $325,000 after buying an additional 141 shares during the period. 95.46% of the stock is owned by institutional investors and hedge funds.
Shares of Genesco Inc. (NYSE:GCO) opened at 58.10 on Tuesday. Genesco Inc. has a 12 month low of $47.66 and a 12 month high of $74.21. The stock has a market capitalization of $1.13 billion, a PE ratio of 12.03 and a beta of 1.28. The stock’s 50 day moving average is $59.57 and its 200 day moving average is $59.39.
Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, March 10th. The company reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.37. Genesco had a return on equity of 10.10% and a net margin of 3.34%. The firm earned $883 million during the quarter, compared to analyst estimates of $901.35 million. During the same quarter in the previous year, the business earned $2.11 EPS. Genesco’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts anticipate that Genesco Inc. will post $4.47 earnings per share for the current fiscal year.
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Several research firms have commented on GCO. B. Riley reissued a “neutral” rating and set a $65.00 price objective on shares of Genesco in a report on Monday, November 28th. Zacks Investment Research upgraded shares of Genesco from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, February 6th. Piper Jaffray Companies set a $63.00 target price on shares of Genesco and gave the company a “hold” rating in a research report on Saturday, March 11th. Finally, Susquehanna Bancshares Inc restated a “hold” rating on shares of Genesco in a research report on Sunday, December 4th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Genesco has an average rating of “Hold” and a consensus target price of $64.75.
In related news, Director Thurgood Marshall, Jr. sold 1,572 shares of Genesco stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of $61.27, for a total value of $96,316.44. Following the completion of the transaction, the director now owns 9,016 shares in the company, valued at approximately $552,410.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.
Genesco Company Profile
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. Its Journeys Group segment includes Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail stores, catalog and e-commerce operations.
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