Short Interest in Rocky Brands, Inc. (NASDAQ:RCKY) Drops By 16.6%

Rocky Brands, Inc. (NASDAQ:RCKY) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 106,100 shares, a decline of 16.6% from the September 30th total of 127,200 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 37,900 shares, the days-to-cover ratio is currently 2.8 days.

Rocky Brands Stock Performance

Shares of Rocky Brands stock traded up $0.39 during trading on Monday, hitting $27.79. 10,113 shares of the stock were exchanged, compared to its average volume of 38,716. The stock has a market capitalization of $206.29 million, a price-to-earnings ratio of 15.48 and a beta of 2.08. The company has a fifty day moving average price of $30.26 and a 200-day moving average price of $32.35. Rocky Brands has a 1-year low of $11.77 and a 1-year high of $40.14. The company has a current ratio of 2.87, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 30th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $98.26 million during the quarter. Rocky Brands had a net margin of 3.21% and a return on equity of 8.85%.

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Tuesday, September 3rd. Rocky Brands’s dividend payout ratio is currently 34.25%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of Rocky Brands by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock worth $100,000 after purchasing an additional 618 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Rocky Brands by 59.5% during the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after buying an additional 1,332 shares in the last quarter. SG Americas Securities LLC bought a new position in Rocky Brands in the 2nd quarter valued at about $149,000. Yarger Wealth Strategies LLC raised its position in shares of Rocky Brands by 7.7% in the 2nd quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock valued at $360,000 after buying an additional 692 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of Rocky Brands during the 3rd quarter worth approximately $339,000. 75.06% of the stock is owned by institutional investors.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.