Short Interest in Rocky Brands, Inc. (NASDAQ:RCKY) Increases By 22.6%

Rocky Brands, Inc. (NASDAQ:RCKY) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 96,600 shares, an increase of 22.6% from the January 15th total of 78,800 shares. Based on an average trading volume of 43,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RCKY. Robert W. Baird reduced their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, February 8th.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY traded down $0.18 during midday trading on Friday, reaching $23.81. 16,060 shares of the company traded hands, compared to its average volume of 39,575. Rocky Brands has a 52 week low of $19.65 and a 52 week high of $40.14. The stock has a 50-day moving average price of $23.59 and a 200 day moving average price of $26.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93. The company has a market cap of $177.38 million, a price-to-earnings ratio of 13.38 and a beta of 2.10.

Rocky Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Tuesday, December 3rd. Rocky Brands’s dividend payout ratio is currently 34.83%.

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in Rocky Brands by 0.3% in the third quarter. FMR LLC now owns 1,117,353 shares of the textile maker’s stock worth $35,599,000 after acquiring an additional 3,883 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Rocky Brands during the 4th quarter valued at about $9,643,000. American Century Companies Inc. increased its holdings in Rocky Brands by 13.7% in the fourth quarter. American Century Companies Inc. now owns 213,991 shares of the textile maker’s stock worth $4,879,000 after buying an additional 25,806 shares during the last quarter. Geode Capital Management LLC increased its holdings in Rocky Brands by 4.6% in the third quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker’s stock worth $5,364,000 after buying an additional 7,353 shares during the last quarter. Finally, State Street Corp increased its holdings in Rocky Brands by 0.4% in the third quarter. State Street Corp now owns 134,249 shares of the textile maker’s stock worth $4,277,000 after buying an additional 586 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

About Rocky Brands

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.