Short Interest in Weyco Group, Inc. (NASDAQ:WEYS) Increases By 24.7%

Weyco Group, Inc. (NASDAQ:WEYS) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 94,402 shares, an increase of 24.7% from the November 30th total of 75,684 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 17,365 shares, the short-interest ratio is presently 5.4 days. Based on an average daily trading volume, of 17,365 shares, the short-interest ratio is presently 5.4 days. Approximately 1.5% of the company’s stock are sold short.

Weyco Group Stock Performance

Shares of NASDAQ WEYS opened at $30.59 on Friday. The firm’s 50-day simple moving average is $31.04 and its 200 day simple moving average is $30.80. The stock has a market cap of $292.13 million, a price-to-earnings ratio of 12.04 and a beta of 0.97. Weyco Group has a fifty-two week low of $25.51 and a fifty-two week high of $38.19.

Weyco Group (NASDAQ:WEYS) last posted its earnings results on Tuesday, November 4th. The textile maker reported $0.69 earnings per share for the quarter. The company had revenue of $73.12 million for the quarter. Weyco Group had a return on equity of 9.82% and a net margin of 8.71%.

Weyco Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, November 17th will be issued a $0.27 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. Weyco Group’s dividend payout ratio is currently 42.52%.

Insider Buying and Selling

In related news, VP Dustin Combs sold 1,059 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $30.09, for a total transaction of $31,865.31. Following the transaction, the vice president directly owned 3,455 shares of the company’s stock, valued at approximately $103,960.95. This represents a 23.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 35.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Weyco Group

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of Weyco Group by 107.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after buying an additional 832 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Weyco Group by 172.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after acquiring an additional 1,133 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Weyco Group in the 3rd quarter valued at about $105,000. Arrowstreet Capital Limited Partnership purchased a new stake in Weyco Group during the second quarter valued at about $204,000. Finally, IFG Advisory LLC bought a new position in Weyco Group during the second quarter worth about $219,000. 23.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.