Lazard Asset Management LLC Raises Stock Holdings in Genesco Inc. (NYSE:GCO)

Lazard Asset Management LLC increased its position in Genesco Inc. (NYSE:GCO) by 272.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,114 shares of the company’s stock after purchasing an additional 25,682 shares during the period. Lazard Asset Management LLC’s holdings in Genesco were worth $1,501,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Genesco by 38.6% in the fourth quarter. BNP Paribas Financial Markets now owns 42,708 shares of the company’s stock worth $1,826,000 after buying an additional 11,900 shares during the period. Brandywine Global Investment Management LLC purchased a new position in shares of Genesco in the fourth quarter worth $1,475,000. Versor Investments LP purchased a new position in shares of Genesco in the fourth quarter worth $543,000. American Century Companies Inc. increased its stake in shares of Genesco by 25.3% in the fourth quarter. American Century Companies Inc. now owns 276,807 shares of the company’s stock worth $11,833,000 after buying an additional 55,977 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Genesco in the fourth quarter valued at $479,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Genesco Stock Performance

NYSE:GCO opened at $24.24 on Monday. The stock has a market cap of $267.56 million, a P/E ratio of -9.98 and a beta of 2.14. The firm’s fifty day simple moving average is $20.60 and its 200 day simple moving average is $31.62. Genesco Inc. has a twelve month low of $16.19 and a twelve month high of $44.80. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

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

Analyst Ratings Changes

Separately, StockNews.com cut shares of Genesco from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th.

Insider Activity at Genesco

In other news, Director Gregory A. Sandfort acquired 10,974 shares of the stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $22.92 per share, with a total value of $251,524.08. Following the completion of the transaction, the director now owns 26,754 shares of the company’s stock, valued at $613,201.68. This represents a 69.54% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 12,000 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $20.73, for a total value of $248,760.00. Following the transaction, the insider now directly owns 1,097,850 shares of the company’s stock, valued at $22,758,430.50. This represents a 1.08% decrease in their position. The disclosure for this sale can be found here. 7.09% of the stock is currently owned by company insiders.

Genesco Company 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.