Connor Clark & Lunn Investment Management Ltd. Invests $3.19 Million in Genesco Inc. $GCO

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Genesco Inc. (NYSE:GCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 94,474 shares of the company’s stock, valued at approximately $3,190,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC bought a new stake in Genesco during the second quarter worth approximately $37,104,000. BlackRock Inc. bought a new position in shares of Genesco in the second quarter valued at approximately $30,730,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Genesco by 371.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 272,455 shares of the company’s stock worth $5,365,000 after buying an additional 214,639 shares during the last quarter. Shay Capital LLC acquired a new stake in shares of Genesco in the second quarter worth $4,027,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Genesco by 2,995.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,155 shares of the company’s stock worth $4,846,000 after buying an additional 161,755 shares during the period. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Genesco Price Performance

Shares of Genesco stock opened at $33.26 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 0.37. The company has a market cap of $369.52 million, a PE ratio of 19.23 and a beta of 1.83. The firm has a fifty day moving average price of $35.60 and a two-hundred day moving average price of $33.17. Genesco Inc. has a fifty-two week low of $21.92 and a fifty-two week high of $43.60.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, May 29th. The company reported ($2.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.58) by $0.40. The company had revenue of $487.03 million for the quarter, compared to the consensus estimate of $474.32 million. Genesco had a net margin of 0.80% and a return on equity of 2.66%. Analysts expect that Genesco Inc. will post 2.25 EPS for the current year.

Insider Buying and Selling at Genesco

In other news, Director Gregory A. Sandfort bought 2,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average cost of $33.80 per share, with a total value of $99,980.40. Following the completion of the transaction, the director directly owned 29,172 shares in the company, valued at $986,013.60. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GCO shares. Truist Financial set a $40.00 target price on shares of Genesco in a report on Friday, May 29th. Seaport Research Partners cut 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 research note on Saturday, June 13th. Zacks Research downgraded Genesco from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Weiss Ratings lowered Genesco from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.67.

About Genesco

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.