Short Interest in Genesco Inc. (NYSE:GCO) Drops By 6.9%

Genesco Inc. (NYSE:GCO) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 530,100 shares, a decrease of 6.9% from the October 15th total of 569,200 shares. Based on an average daily trading volume, of 148,500 shares, the short-interest ratio is presently 3.6 days. Approximately 5.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Genesco

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Genesco by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 247,193 shares of the company’s stock valued at $6,718,000 after buying an additional 3,157 shares during the last quarter. Barclays PLC boosted its stake in Genesco by 103.1% during the 3rd quarter. Barclays PLC now owns 20,730 shares of the company’s stock valued at $563,000 after acquiring an additional 10,521 shares during the last quarter. State Street Corp grew its holdings in Genesco by 2.1% during the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock worth $8,713,000 after acquiring an additional 6,587 shares in the last quarter. Point72 DIFC Ltd increased its position in shares of Genesco by 1,627.4% in the 3rd quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock worth $45,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Centiva Capital LP raised its stake in shares of Genesco by 4.3% in the 3rd quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock valued at $238,000 after purchasing an additional 357 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Price Performance

Shares of GCO stock opened at $30.25 on Tuesday. The firm has a fifty day simple moving average of $27.67 and a 200-day simple moving average of $27.37. The company has a market capitalization of $339.41 million, a PE ratio of -432.08 and a beta of 2.41. Genesco has a twelve month low of $23.21 and a twelve month high of $37.89. The company has a current ratio of 1.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.15.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, September 6th. The company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.29. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. The company had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $512.19 million. Equities research analysts anticipate that Genesco will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Genesco from a “hold” rating to a “buy” rating in a report on Monday.

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.