Gregory A. Sandfort Purchases 10,974 Shares of Genesco Inc. (NYSE:GCO) Stock

Genesco Inc. (NYSE:GCO) Director Gregory A. Sandfort purchased 10,974 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $22.92 per share, with a total value of $251,524.08. Following the purchase, the director now directly owns 26,754 shares of the company’s stock, valued at $613,201.68. This trade represents a 69.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Genesco Stock Performance

Shares of Genesco stock opened at $22.19 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $248.74 million, a P/E ratio of -9.13 and a beta of 2.41. The business has a fifty day simple moving average of $35.69 and a two-hundred day simple moving average of $33.62. Genesco Inc. has a 12 month low of $20.09 and a 12 month high of $44.80.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.05). The company had revenue of $745.95 million during the quarter, compared to analysts’ expectations of $780.43 million. Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. During the same period in the prior year, the firm earned $2.59 EPS. On average, equities analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genesco

Several large investors have recently modified their holdings of the stock. Portolan Capital Management LLC purchased a new position in shares of Genesco in the 4th quarter worth about $19,847,000. Marshall Wace LLP raised its position in shares of Genesco by 28.6% in the 4th quarter. Marshall Wace LLP now owns 428,143 shares of the company’s stock worth $18,303,000 after purchasing an additional 95,195 shares during the last quarter. State Street Corp raised its position in shares of Genesco by 2.1% in the 3rd quarter. State Street Corp now owns 320,691 shares of the company’s stock worth $8,713,000 after purchasing an additional 6,587 shares during the last quarter. American Century Companies Inc. raised its position in shares of Genesco by 25.3% in the 4th quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock worth $11,833,000 after purchasing an additional 55,977 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Genesco by 124.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock worth $6,824,000 after buying an additional 139,485 shares in the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Genesco from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

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.