Penn Capital Management Company LLC Takes $531,000 Position in Genesco Inc. $GCO

Penn Capital Management Company LLC purchased a new stake in shares of Genesco Inc. (NYSE:GCO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,727 shares of the company’s stock, valued at approximately $531,000. Penn Capital Management Company LLC owned approximately 0.14% of Genesco at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GCO. Pzena Investment Management LLC acquired a new stake in shares of Genesco in the second quarter valued at $37,104,000. BlackRock Inc. acquired a new position in Genesco during the 2nd quarter worth about $30,730,000. Arrowstreet Capital Limited Partnership grew its holdings in Genesco by 371.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after acquiring an additional 214,639 shares during the last quarter. Shay Capital LLC acquired a new stake in Genesco in the 2nd quarter valued at about $4,027,000. Finally, Fund 1 Investments LLC increased its position in Genesco by 43.4% in the 2nd quarter. Fund 1 Investments LLC now owns 609,963 shares of the company’s stock valued at $20,598,000 after acquiring an additional 184,653 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.

Genesco Price Performance

Genesco stock opened at $33.26 on Friday. The company has a current ratio of 1.83, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $369.52 million, a P/E ratio of 19.23 and a beta of 1.83. The business has a 50-day moving average of $35.60 and a 200-day moving average of $33.17. Genesco Inc. has a 1 year low of $21.92 and a 1 year high of $43.60.

Genesco (NYSE:GCO) last announced its quarterly earnings results on Friday, May 29th. The company reported ($2.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.58) by $0.40. Genesco had a net margin of 0.80% and a return on equity of 2.66%. The business had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.32 million. On average, equities analysts anticipate that Genesco Inc. will post 2.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Gregory A. Sandfort bought 2,958 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were bought at an average cost of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the acquisition, the director owned 29,172 shares in the company, valued at approximately $986,013.60. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Genesco from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Seaport Research Partners cut shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded Genesco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Truist Financial set a $40.00 price objective on Genesco in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.67.

Genesco Profile

Genesco Inc is a Nashville, Tennessee-based retailer, wholesaler and licensee specializing in branded footwear, headwear, apparel and accessories. Through its portfolio of retail chains, wholesale distribution channels and licensing agreements, Genesco brings a range of product offerings to consumers in North America and Europe.

The company’s retail segment includes specialty chains such as Journeys, which targets fashion-focused teens and young adults in the United States and Canada, and Schuh, a footwear retailer with locations in the United Kingdom and Ireland.