Genesco (NYSE:GCO) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Genesco Inc. (NYSE:GCO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.28 and traded as high as $40.92. Genesco shares last traded at $40.92, with a volume of 49,478 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded Genesco from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

Genesco Price Performance

The company has a market capitalization of $458.80 million, a P/E ratio of -16.84 and a beta of 2.47. 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 business has a 50 day simple moving average of $33.14 and a 200-day simple moving average of $29.28.

Genesco (NYSE:GCO) last issued its quarterly earnings data on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.31. The firm had revenue of $596.30 million for the quarter, compared to the consensus estimate of $577.73 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. Genesco’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Analysts predict that Genesco Inc. will post 0.81 EPS for the current fiscal year.

Insider Transactions at Genesco

In other news, VP Daniel E. Ewoldsen sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.68, for a total transaction of $170,720.00. Following the transaction, the vice president now directly owns 41,358 shares of the company’s stock, valued at approximately $1,765,159.44. This trade represents a 8.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.09% of the company’s stock.

Hedge Funds Weigh In On Genesco

A number of institutional investors and hedge funds have recently bought and sold shares of GCO. Quarry LP bought a new stake in shares of Genesco during the 2nd quarter worth about $27,000. nVerses Capital LLC acquired a new position in shares of Genesco during the third quarter valued at approximately $30,000. Point72 DIFC Ltd raised its holdings 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 purchasing an additional 1,546 shares in the last quarter. Quest Partners LLC lifted its position in 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 purchasing an additional 657 shares during the period. Finally, CWM LLC boosted its stake in Genesco by 256.4% during the 3rd quarter. CWM LLC now owns 2,363 shares of the company’s stock valued at $64,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors 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.