Genesco Inc. (NYSE:GCO) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. cut its stake in Genesco Inc. (NYSE:GCO) by 16.1% in the fourth quarter, Holdings Channel reports. The fund owned 6,741 shares of the company’s stock after selling 1,294 shares during the period. Meeder Asset Management Inc.’s holdings in Genesco were worth $288,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GCO. JPMorgan Chase & Co. grew its holdings in shares of Genesco by 124.9% in the third quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock valued at $6,824,000 after purchasing an additional 139,485 shares during the period. American Century Companies Inc. grew its stake in shares of Genesco by 25.3% in the 4th quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock valued at $11,833,000 after buying an additional 55,977 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of Genesco during the 4th quarter worth approximately $1,475,000. Martingale Asset Management L P purchased a new stake in shares of Genesco during the 3rd quarter valued at approximately $842,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Genesco in the fourth quarter valued at approximately $607,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Genesco from a “buy” rating to a “hold” rating in a research note on Friday, March 7th.

Genesco Stock Up 1.3 %

Shares of NYSE:GCO opened at $21.21 on Tuesday. The business has a 50-day moving average price of $33.44 and a 200 day moving average price of $33.50. Genesco Inc. has a 12-month low of $20.09 and a 12-month high of $44.80. 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 company has a market capitalization of $234.06 million, a price-to-earnings ratio of -8.73 and a beta of 2.41.

Genesco (NYSE:GCO) last released its quarterly earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). The company 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 last year, the firm posted $2.59 earnings per share. Sell-side analysts expect that Genesco Inc. will post 0.94 EPS for the current year.

Insiders Place Their Bets

In other Genesco news, Director Gregory A. Sandfort acquired 10,974 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $22.92 per share, for a total transaction of $251,524.08. Following the completion of the acquisition, the director now owns 26,754 shares of the company’s stock, valued at approximately $613,201.68. This trade represents a 69.54 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $20.73, for a total transaction of $248,760.00. Following the sale, the insider now owns 1,097,850 shares in the company, valued at approximately $22,758,430.50. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.09% of the stock is owned by insiders.

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.