Assenagon Asset Management S.A. Cuts Position in Genesco Inc. (NYSE:GCO)

Assenagon Asset Management S.A. decreased its position in Genesco Inc. (NYSE:GCO) by 45.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,522 shares of the company’s stock after selling 44,533 shares during the quarter. Assenagon Asset Management S.A. owned 0.45% of Genesco worth $1,427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GCO. Quarry LP purchased a new stake in Genesco in the second quarter valued at approximately $27,000. nVerses Capital LLC acquired a new position in shares of Genesco in the third quarter worth $30,000. CWM LLC grew its stake in shares of Genesco by 256.4% in the third quarter. CWM LLC now owns 2,363 shares of the company’s stock worth $64,000 after acquiring an additional 1,700 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Genesco by 4,977.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,656 shares of the company’s stock worth $95,000 after acquiring an additional 3,584 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Genesco in the second quarter worth $113,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research note on Saturday.

Genesco Price Performance

Shares of NYSE:GCO opened at $24.93 on Friday. The company has a 50-day simple moving average of $27.69 and a 200-day simple moving average of $27.06. Genesco Inc. has a one year low of $23.21 and a one year high of $37.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.40 and a current ratio of 1.53. The stock has a market capitalization of $279.71 million, a price-to-earnings ratio of -356.09 and a beta of 2.40.

Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, September 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.12) by $0.29. The firm had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $512.19 million. Genesco had a negative net margin of 0.03% and a positive return on equity of 0.49%. On average, analysts predict that Genesco Inc. will post 0.66 EPS for the current year.

Genesco Profile

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories in the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands.