Assenagon Asset Management S.A. Decreases Holdings in Genesco Inc. (NYSE:GCO)

Assenagon Asset Management S.A. decreased its stake in Genesco Inc. (NYSE:GCO) by 38.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 32,244 shares of the company’s stock after selling 20,278 shares during the period. Assenagon Asset Management S.A.’s holdings in Genesco were worth $1,378,000 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 the stock. American Century Companies Inc. lifted its stake in shares of Genesco by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 157,064 shares of the company’s stock valued at $4,062,000 after buying an additional 26,436 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Genesco by 166.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 34,275 shares of the company’s stock worth $931,000 after acquiring an additional 21,410 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of 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 acquiring an additional 859 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Genesco by 139.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,279 shares of the company’s stock worth $986,000 after acquiring an additional 21,158 shares during the period. Finally, Martingale Asset Management L P purchased a new position in shares of Genesco in the third quarter valued at $842,000. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Genesco from a “hold” rating to a “buy” rating in a report on Friday, December 6th.

Insider Buying and Selling

In other Genesco news, VP Daniel E. Ewoldsen sold 4,000 shares of Genesco stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.68, for a total transaction of $170,720.00. Following the transaction, the vice president now directly owns 41,358 shares of the company’s stock, valued at approximately $1,765,159.44. This trade represents a 8.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.09% of the stock is currently owned by corporate insiders.

Genesco Stock Performance

NYSE:GCO opened at $43.30 on Friday. The stock has a market cap of $485.34 million, a P/E ratio of -17.82 and a beta of 2.37. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $39.04 and its two-hundred day moving average price is $31.87. Genesco Inc. has a twelve month low of $23.21 and a twelve month high of $44.80.

Genesco (NYSE:GCO) last announced its earnings results on Friday, December 6th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.31. Genesco had a negative net margin of 1.13% and a positive return on equity of 0.56%. The business had revenue of $596.30 million for the quarter, compared to the consensus estimate of $577.73 million. During the same period last year, the firm posted $0.57 earnings per share. Genesco’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Genesco Inc. will post 0.94 EPS for the current fiscal year.

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.