Insider Selling: Genesco Inc. (NYSE:GCO) Major Shareholder Sells 12,000 Shares of Stock

Genesco Inc. (NYSE:GCO) major shareholder Fund 1 Investments, Llc sold 12,000 shares of Genesco stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $20.73, for a total value of $248,760.00. Following the completion of the sale, the insider now directly owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Genesco Stock Up 2.5 %

Genesco stock opened at $21.77 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. Genesco Inc. has a 1-year low of $20.09 and a 1-year high of $44.80. The company has a fifty day simple moving average of $33.04 and a 200 day simple moving average of $33.47. The company has a market cap of $240.31 million, a P/E ratio of -8.96 and a beta of 2.41.

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

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Friday, March 7th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Genesco in the 4th quarter valued at approximately $35,000. Point72 DIFC Ltd raised its position in Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock worth $45,000 after acquiring an additional 1,546 shares in the last quarter. Quest Partners LLC lifted its stake in Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Genesco in the fourth quarter valued at $111,000. Finally, Bayesian Capital Management LP bought a new position in shares of Genesco in the 4th quarter valued at about $234,000. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Company Profile

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.