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

Genesco Inc. (NYSE:GCO) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 530,100 shares, a drop 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 shares of the company are short sold.

Hedge Funds Weigh In On Genesco

Several institutional investors have recently modified their holdings of GCO. Quarry LP bought a new position in Genesco in the 2nd quarter worth about $27,000. nVerses Capital LLC bought a new position in Genesco in the 3rd quarter worth approximately $30,000. Point72 DIFC Ltd increased its position in Genesco by 1,627.4% in the 3rd quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock valued at $45,000 after acquiring an additional 1,546 shares during the period. Quest Partners LLC raised its stake in Genesco by 54.9% during the 3rd quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Genesco by 256.4% in the third quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.

Genesco Price Performance

GCO opened at $30.25 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $27.67 and its 200 day moving average price is $27.37. Genesco has a fifty-two week low of $23.21 and a fifty-two week high of $37.89. The firm has a market cap of $339.41 million, a price-to-earnings ratio of -432.08 and a beta of 2.41.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.12) by $0.29. The business had revenue of $525.19 million for the quarter, compared to the consensus estimate of $512.19 million. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. As a group, sell-side analysts expect that Genesco will post 0.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.