Investors Purchase High Volume of Put Options on Genesco (GCO)
Genesco Inc. (NYSE:GCO) was the recipient of some unusual options trading activity on Thursday. Traders acquired 1,534 put options on the company. This represents an increase of 2,001% compared to the typical daily volume of 73 put options.
In other news, SVP Mimi Eckel Vaughn acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the transaction, the senior vice president now directly owns 87,140 shares in the company, valued at approximately $2,105,302.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert J. Dennis acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the transaction, the chairman now owns 224,935 shares in the company, valued at $5,355,702.35. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Asset Management Inc. boosted its position in shares of Genesco by 9.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock worth $69,996,000 after purchasing an additional 177,335 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Genesco by 0.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock worth $24,202,000 after buying an additional 3,578 shares during the last quarter. State Street Corp raised its stake in shares of Genesco by 12.4% during the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock worth $21,977,000 after buying an additional 71,541 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Genesco by 59.2% during the 2nd quarter. Victory Capital Management Inc. now owns 647,015 shares of the company’s stock worth $21,934,000 after buying an additional 240,722 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Genesco by 47.5% during the 2nd quarter. Northern Trust Corp now owns 586,814 shares of the company’s stock worth $19,893,000 after buying an additional 188,906 shares during the last quarter. Institutional investors own 97.71% of the company’s stock.
Genesco (NYSE:GCO) last issued its earnings results on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.10). The company had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $706.58 million. Genesco had a return on equity of 7.36% and a net margin of 2.43%. Genesco’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. sell-side analysts predict that Genesco will post 3.33 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on GCO shares. BidaskClub upgraded shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Morgan Stanley lowered their price objective on shares of Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 14th. SunTrust Banks set a $33.00 target price on shares of Genesco and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Susquehanna Bancshares restated a “neutral” rating and set a $29.00 target price (down from $43.00) on shares of Genesco in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $33.29.
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Genesco Company Profile
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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