Two Sigma Investments LP Sells 8,008 Shares of Genesco Inc. (NYSE:GCO)

Two Sigma Investments LP reduced its stake in shares of Genesco Inc. (NYSE:GCO) by 35.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,700 shares of the company’s stock after selling 8,008 shares during the period. Two Sigma Investments LP owned about 0.13% of Genesco worth $628,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GCO. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Genesco in the 4th quarter worth approximately $35,000. SG Americas Securities LLC purchased a new position in shares of Genesco in the 4th quarter worth approximately $111,000. Bayesian Capital Management LP purchased a new position in shares of Genesco in the 4th quarter worth approximately $234,000. State of Wyoming purchased a new position in shares of Genesco in the 4th quarter worth approximately $242,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Genesco by 28.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,846 shares of the company’s stock worth $250,000 after buying an additional 1,281 shares during the last quarter. 94.51% of the stock is owned by institutional investors.

Genesco Trading Up 0.1%

NYSE:GCO opened at $22.71 on Monday. The company has a current ratio of 1.56, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $244.81 million, a PE ratio of -9.35 and a beta of 2.17. The firm’s 50 day moving average is $20.64 and its 200 day moving average is $30.87. Genesco Inc. has a 12 month low of $16.19 and a 12 month high of $44.80.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($2.05) EPS for the quarter, topping analysts’ consensus estimates of ($2.09) by $0.04. The company had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $463.90 million. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. Genesco’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.10) EPS. Sell-side analysts expect that Genesco Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In other Genesco news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $23.26, for a total transaction of $581,500.00. Following the sale, the insider now owns 1,072,850 shares of the company’s stock, valued at $24,954,491. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory A. Sandfort bought 10,974 shares of the stock in a transaction on Thursday, March 20th. The shares were acquired at an average cost of $22.92 per share, for a total transaction of $251,524.08. Following the acquisition, the director now directly owns 26,754 shares in the company, valued at approximately $613,201.68. This trade represents a 69.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GCO shares. Jefferies Financial Group restated a “hold” rating and issued a $24.00 target price (down previously from $27.00) on shares of Genesco in a research note on Wednesday, May 21st. Truist Financial lifted their price target on shares of Genesco from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Wall Street Zen cut shares of Genesco from a “buy” rating to a “hold” rating in a report on Friday, May 30th.

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.