Weyco Group (WEYS) Upgraded at BidaskClub

Weyco Group (NASDAQ:WEYS) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, TheStreet raised shares of Weyco Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th.

Shares of Weyco Group (NASDAQ:WEYS) traded up $0.12 during trading on Tuesday, hitting $31.95. 29,445 shares of the company were exchanged, compared to its average volume of 44,680. The firm has a market capitalization of $324.41, a price-to-earnings ratio of 20.09 and a beta of 0.67. Weyco Group has a fifty-two week low of $23.75 and a fifty-two week high of $32.99.

Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings results on Friday, October 27th. The textile maker reported $0.48 earnings per share for the quarter. The business had revenue of $76.91 million during the quarter. Weyco Group had a net margin of 5.81% and a return on equity of 7.08%.

In other Weyco Group news, Director Cory L. Nettles sold 1,297 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $28.00, for a total value of $36,316.00. Following the transaction, the director now directly owns 6,250 shares of the company’s stock, valued at $175,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John W. Florsheim sold 30,052 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $28.00, for a total transaction of $841,456.00. Following the completion of the transaction, the chief operating officer now directly owns 278,764 shares in the company, valued at $7,805,392. The disclosure for this sale can be found here. In the last three months, insiders sold 33,794 shares of company stock valued at $948,139. 42.81% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Weyco Group by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 77,740 shares of the textile maker’s stock valued at $2,160,000 after acquiring an additional 3,024 shares during the last quarter. State Street Corp boosted its stake in Weyco Group by 14.3% in the fourth quarter. State Street Corp now owns 117,207 shares of the textile maker’s stock valued at $3,665,000 after acquiring an additional 14,663 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Weyco Group in the first quarter valued at approximately $224,000. Deprince Race & Zollo Inc. boosted its stake in Weyco Group by 0.7% in the third quarter. Deprince Race & Zollo Inc. now owns 107,412 shares of the textile maker’s stock valued at $2,886,000 after acquiring an additional 695 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new position in Weyco Group in the fourth quarter valued at approximately $1,341,000. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

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About Weyco Group

Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe (Florsheim Europe).

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