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

Weyco Group (NASDAQ:WEYS) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Weyco Group Stock Performance

Shares of Weyco Group stock opened at $38.47 on Thursday. Weyco Group has a 52 week low of $24.47 and a 52 week high of $41.05. The stock has a 50 day moving average price of $33.94 and a two-hundred day moving average price of $31.93. The stock has a market capitalization of $365.08 million, a PE ratio of 12.74 and a beta of 0.71.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.59 earnings per share for the quarter. Weyco Group had a net margin of 9.94% and a return on equity of 11.64%. The firm had revenue of $63.93 million for the quarter.

Insiders Place Their Bets

In related news, insider Damian Walton sold 1,340 shares of Weyco Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $32.50, for a total transaction of $43,550.00. Following the transaction, the insider now owns 7,030 shares of the company’s stock, valued at $228,475. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 3,078 shares of company stock valued at $102,351. Corporate insiders own 38.90% of the company’s stock.

Institutional Trading of Weyco Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Weyco Group in the 2nd quarter worth about $25,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Weyco Group by 2,329.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 1,654 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Weyco Group by 83.6% during the first quarter. BNP Paribas Financial Markets now owns 3,198 shares of the textile maker’s stock valued at $102,000 after acquiring an additional 1,456 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in Weyco Group by 23.4% during the third quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after acquiring an additional 1,893 shares during the period. Finally, First Business Financial Services Inc. boosted its position in Weyco Group by 8.3% in the third quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock worth $446,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Weyco Group Company Profile

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.