Jane Street Group LLC Reduces Position in Genesco Inc. (NYSE:GCO)

Jane Street Group LLC trimmed its stake in Genesco Inc. (NYSE:GCO) by 46.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,841 shares of the company’s stock after selling 18,960 shares during the quarter. Jane Street Group LLC owned approximately 0.19% of Genesco worth $934,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Brandywine Global Investment Management LLC acquired a new position in shares of Genesco in the fourth quarter worth $1,475,000. Versor Investments LP acquired a new position in shares of Genesco in the fourth quarter worth $543,000. American Century Companies Inc. raised its holdings in shares of Genesco by 25.3% in the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock worth $11,833,000 after acquiring an additional 55,977 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Genesco in the fourth quarter worth $479,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Genesco in the fourth quarter worth $766,000. 94.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GCO. Jefferies Financial Group cut their price target on Genesco from $27.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday. Wall Street Zen cut Genesco from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th.

Genesco Price Performance

Shares of NYSE:GCO opened at $21.84 on Friday. The company has a market cap of $235.39 million, a P/E ratio of -8.99 and a beta of 2.14. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. Genesco Inc. has a 52 week low of $16.19 and a 52 week high of $44.80. The business has a fifty day simple moving average of $20.68 and a 200-day simple moving average of $31.44.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, March 7th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). The business had revenue of $745.95 million during the quarter, compared to analysts’ expectations of $780.43 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. During the same period in the prior year, the firm earned $2.59 EPS. Equities research analysts forecast that Genesco Inc. will post 0.94 EPS for the current year.

Insider Activity

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $20.73, for a total transaction of $248,760.00. Following the completion of the sale, the insider now directly owns 1,097,850 shares in the company, valued at $22,758,430.50. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory A. Sandfort purchased 10,974 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $22.92 per share, with a total value of $251,524.08. Following the completion of the purchase, the director now directly owns 26,754 shares of the company’s stock, valued at $613,201.68. The trade was a 69.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 7.09% of the company’s stock.

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.