Weyco Group, Inc. (NASDAQ:WEYS) Sees Significant Increase in Short Interest

Weyco Group, Inc. (NASDAQ:WEYS) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 93,415 shares, a growth of 34.1% from the February 26th total of 69,648 shares. Based on an average daily volume of 28,006 shares, the short-interest ratio is presently 3.3 days. Currently, 1.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

WEYS has been the subject of several analyst reports. Wall Street Zen cut shares of Weyco Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings raised shares of Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Weyco Group Stock Performance

Shares of NASDAQ:WEYS opened at $31.74 on Monday. The business has a 50-day moving average price of $31.96 and a 200 day moving average price of $31.03. The company has a market capitalization of $302.48 million, a price-to-earnings ratio of 13.17 and a beta of 0.99. Weyco Group has a 12-month low of $25.51 and a 12-month high of $34.92.

Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, March 3rd. The textile maker reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $76.80 million for the quarter. Weyco Group had a net margin of 8.36% and a return on equity of 9.35%.

Weyco Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, March 13th. Weyco Group’s payout ratio is 44.81%.

Hedge Funds Weigh In On Weyco Group

A number of hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co acquired a new stake in Weyco Group in the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets lifted its stake in Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after purchasing an additional 832 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Weyco Group by 172.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,133 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Weyco Group during the fourth quarter worth $55,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Weyco Group during the fourth quarter worth $72,000. Hedge funds and other institutional investors own 23.59% of the company’s stock.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.