Genesco Inc. (NYSE:GCO) Short Interest Down 7.4% in November

Genesco Inc. (NYSE:GCO) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 490,800 shares, a drop of 7.4% from the October 31st total of 530,100 shares. Based on an average daily trading volume, of 150,800 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.7% of the company’s stock are short sold.

Genesco Stock Performance

GCO traded up $2.03 during trading on Monday, hitting $35.62. 149,895 shares of the stock were exchanged, compared to its average volume of 136,558. The firm has a market capitalization of $399.66 million, a P/E ratio of -508.78 and a beta of 2.41. Genesco has a 1-year low of $23.21 and a 1-year high of $36.51. The stock has a fifty day moving average price of $28.88 and a two-hundred day moving average price of $27.81. The company has a quick ratio of 0.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.15.

Genesco (NYSE:GCO) last announced its earnings results on Friday, September 6th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.29. Genesco had a positive return on equity of 0.49% and a negative net margin of 0.03%. The company had revenue of $525.19 million for the quarter, compared to the consensus estimate of $512.19 million. As a group, sell-side analysts predict that Genesco will post 0.66 earnings per share for the current year.

Institutional Trading of Genesco

A number of institutional investors have recently modified their holdings of the business. Centiva Capital LP boosted its stake in shares of Genesco by 4.3% in the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock valued at $238,000 after buying an additional 357 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Genesco by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 29,246 shares of the company’s stock worth $756,000 after purchasing an additional 556 shares in the last quarter. Quest Partners LLC boosted its position in Genesco by 54.9% during 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 in the last quarter. Franklin Resources Inc. boosted its position in Genesco by 8.4% during the third quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock worth $313,000 after purchasing an additional 859 shares in the last quarter. Finally, Quarry LP purchased a new stake in Genesco during the second quarter worth $27,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Genesco from a “buy” rating to a “hold” rating in a research note on Thursday.

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.