Virtus Advisers LLC Buys Shares of 21,866 Genesco Inc. $GCO

Virtus Advisers LLC bought a new position in shares of Genesco Inc. (NYSE:GCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,866 shares of the company’s stock, valued at approximately $738,000. Virtus Advisers LLC owned about 0.20% of Genesco at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Group One Trading LLC acquired a new position in shares of Genesco during the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new stake in Genesco during the 1st quarter valued at $26,000. New York State Teachers Retirement System acquired a new stake in Genesco during the 1st quarter valued at $27,000. Optiver Holding B.V. increased its position in Genesco by 550.6% during the first quarter. Optiver Holding B.V. now owns 1,106 shares of the company’s stock worth $32,000 after buying an additional 936 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Genesco during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Genesco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Truist Financial set a $40.00 price target on shares of Genesco in a report on Friday, May 29th. 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 downgraded shares of Genesco from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Finally, Seaport Research Partners lowered shares of Genesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.67.

Genesco Price Performance

Shares of Genesco stock opened at $34.11 on Friday. The stock has a market capitalization of $378.96 million, a P/E ratio of 19.72 and a beta of 1.83. Genesco Inc. has a twelve month low of $21.92 and a twelve month high of $43.60. 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 business’s fifty day moving average price is $35.97 and its 200 day moving average price is $32.96.

Genesco (NYSE:GCO) last issued its earnings results on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.58) by $0.40. The business had revenue of $487.03 million during the quarter, compared to analysts’ expectations of $474.32 million. Genesco had a return on equity of 2.66% and a net margin of 0.80%.Genesco has set its FY 2027 guidance at 2.000-2.400 EPS. As a group, research analysts anticipate that Genesco Inc. will post 2.25 earnings per share for the current year.

Insider Activity

In related news, Director Gregory A. Sandfort acquired 2,958 shares of Genesco stock in a transaction on Thursday, July 9th. The shares were bought at an average price of $33.80 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director directly owned 29,172 shares in the company, valued at $986,013.60. This trade represents a 11.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.11% of the stock is owned by insiders.

Genesco Company 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.