Insider Selling: Genesco Inc. (NYSE:GCO) Major Shareholder Sells $248,760.00 in Stock

Genesco Inc. (NYSE:GCO) major shareholder Fund 1 Investments, Llc sold 12,000 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $20.73, for a total transaction of $248,760.00. Following the transaction, the insider now owns 1,097,850 shares in the company, valued at $22,758,430.50. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Genesco Stock Performance

GCO stock opened at $22.14 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. Genesco Inc. has a 1 year low of $20.09 and a 1 year high of $44.80. The company has a market cap of $244.38 million, a P/E ratio of -9.11 and a beta of 2.41. The stock’s fifty day moving average price is $32.62 and its 200-day moving average price is $33.39.

Genesco (NYSE:GCO) last announced its 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). Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $745.95 million during the quarter, compared to analysts’ expectations of $780.43 million. During the same period in the previous year, the business posted $2.59 earnings per share. On average, equities analysts forecast that Genesco Inc. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Genesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new stake in shares of Genesco during the 4th quarter valued at $596,000. Virtus Investment Advisers Inc. bought a new stake in Genesco during the fourth quarter valued at about $361,000. State of Wyoming purchased a new stake in Genesco in the fourth quarter worth about $242,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Genesco in the fourth quarter worth about $35,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Genesco during the 4th quarter valued at about $356,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

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.