Weyco Group (NASDAQ:WEYS) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Weyco Group (NASDAQ:WEYS) from a strong-buy rating to a buy rating in a report released on Tuesday.

Weyco Group Stock Performance

Shares of NASDAQ:WEYS opened at $34.56 on Tuesday. Weyco Group has a 52-week low of $27.05 and a 52-week high of $41.05. The company has a market capitalization of $330.36 million, a PE ratio of 11.44 and a beta of 0.69. The company has a fifty day moving average of $36.10 and a 200-day moving average of $35.01.

Institutional Trading of Weyco Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in Weyco Group by 34.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock worth $68,000 after buying an additional 511 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Weyco Group by 394.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,507 shares of the textile maker’s stock valued at $103,000 after acquiring an additional 2,000 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Weyco Group by 23.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,040 shares of the textile maker’s stock worth $152,000 after purchasing an additional 775 shares during the period. Martingale Asset Management L P bought a new stake in shares of Weyco Group in the fourth quarter worth $218,000. Finally, Barclays PLC increased its holdings in Weyco Group by 263.8% in the third quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock valued at $273,000 after purchasing an additional 5,803 shares during the period. 23.59% of the stock is currently owned by institutional investors.

About Weyco Group

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.