Connor Clark & Lunn Investment Management Ltd. Lowers Position in Genesco Inc. (NYSE:GCO)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Genesco Inc. (NYSE:GCO) by 29.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,428 shares of the company’s stock after selling 10,851 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of Genesco worth $1,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GCO. Point72 DIFC Ltd increased its position in shares of Genesco by 1,627.4% during the third quarter. Point72 DIFC Ltd now owns 1,641 shares of the company’s stock valued at $45,000 after acquiring an additional 1,546 shares during the last quarter. Quest Partners LLC increased its position in shares of Genesco by 54.9% during the third quarter. Quest Partners LLC now owns 1,854 shares of the company’s stock valued at $50,000 after acquiring an additional 657 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Genesco during the fourth quarter valued at approximately $111,000. Centiva Capital LP increased its position in shares of Genesco by 4.3% during the third quarter. Centiva Capital LP now owns 8,755 shares of the company’s stock valued at $238,000 after acquiring an additional 357 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of Genesco during the fourth quarter valued at approximately $264,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gregory A. Sandfort purchased 10,974 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $22.92 per share, with a total value of $251,524.08. Following the completion of the acquisition, the director now directly owns 26,754 shares of the company’s stock, valued at approximately $613,201.68. The trade was a 69.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.09% of the company’s stock.

Genesco Stock Performance

NYSE:GCO opened at $22.06 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.32. The business has a fifty day simple moving average of $36.07 and a two-hundred day simple moving average of $33.68. Genesco Inc. has a 1 year low of $20.09 and a 1 year high of $44.80. The company has a market capitalization of $247.36 million, a P/E ratio of -9.08 and a beta of 2.41.

Genesco (NYSE:GCO) last released its earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.05). Genesco had a positive return on equity of 0.56% and a negative net margin of 1.13%. The firm had revenue of $745.95 million during the quarter, compared to analysts’ expectations of $780.43 million. During the same period in the prior year, the business earned $2.59 earnings per share. On average, analysts expect that Genesco Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

About Genesco

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.