Insider Buying: Genesco Inc. (NYSE:GCO) Director Purchases 10,974 Shares of Stock

Genesco Inc. (NYSE:GCO) Director Gregory A. Sandfort acquired 10,974 shares of Genesco stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average price of $22.92 per share, with a total value of $251,524.08. Following the completion of the acquisition, the director now directly owns 26,754 shares in the company, valued at $613,201.68. This represents a 69.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Genesco Trading Up 0.7 %

Genesco stock opened at $22.19 on Friday. The business has a 50-day simple moving average of $35.69 and a two-hundred day simple moving average of $33.62. The company has a market cap of $248.74 million, a P/E ratio of -9.13 and a beta of 2.41. Genesco Inc. has a 52-week low of $20.09 and a 52-week high of $44.80. 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 (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 firm had revenue of $745.95 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $2.59 earnings per share. Analysts predict that Genesco Inc. will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Genesco

Large investors have recently made changes to their positions in the company. Versor Investments LP bought a new stake in shares of Genesco during the 4th quarter valued at about $543,000. Dynamic Technology Lab Private Ltd lifted its position in shares of Genesco by 166.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 34,275 shares of the company’s stock valued at $931,000 after buying an additional 21,410 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Genesco during the 4th quarter valued at about $479,000. Franklin Resources Inc. lifted its position in shares of Genesco by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,108 shares of the company’s stock valued at $313,000 after buying an additional 859 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Genesco by 124.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 251,142 shares of the company’s stock valued at $6,824,000 after buying an additional 139,485 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.