Insider Buying: Genesco Inc. (NYSE:GCO) Director Acquires 10,974 Shares of Stock

Genesco Inc. (NYSE:GCO) Director Gregory A. Sandfort acquired 10,974 shares of the stock in a transaction dated 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 transaction, the director now owns 26,754 shares of the company’s stock, valued at approximately $613,201.68. This trade represents a 69.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Genesco Price Performance

Shares of NYSE:GCO opened at $22.19 on Friday. The business has a fifty day simple moving average of $35.69 and a 200-day simple moving average of $33.64. Genesco Inc. has a 52 week low of $20.09 and a 52 week high of $44.80. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market cap of $248.74 million, a P/E ratio of -9.13 and a beta of 2.41.

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 analysts’ consensus estimates 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 firm had revenue of $745.95 million for the quarter, compared to analysts’ expectations of $780.43 million. During the same period last year, the firm posted $2.59 EPS. Equities research analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Genesco

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Genesco by 1.5% during the fourth quarter. Rhumbline Advisers now owns 19,146 shares of the company’s stock valued at $818,000 after acquiring an additional 281 shares during the period. Centiva Capital LP boosted its position in shares of Genesco by 4.3% in the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock worth $238,000 after buying an additional 357 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Genesco by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,392 shares of the company’s stock worth $616,000 after buying an additional 650 shares during the period. Quest Partners LLC boosted its position in shares of Genesco by 54.9% in the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock worth $50,000 after buying an additional 657 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Genesco in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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.