Meeder Asset Management Inc. decreased its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 70.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,050 shares of the textile maker’s stock after selling 24,000 shares during the period. Meeder Asset Management Inc. owned about 0.14% of Rocky Brands worth $135,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Rocky Brands by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 135,900 shares of the textile maker’s stock worth $1,570,000 after buying an additional 4,700 shares during the period. ICM Asset Management Inc. WA raised its stake in shares of Rocky Brands by 68.3% in the fourth quarter. ICM Asset Management Inc. WA now owns 42,505 shares of the textile maker’s stock worth $491,000 after buying an additional 17,247 shares in the last quarter. Marquette Asset Management Inc. bought a new stake in shares of Rocky Brands during the first quarter worth about $175,000. North Star Investment Management Corp. raised its stake in shares of Rocky Brands by 2.5% in the first quarter. North Star Investment Management Corp. now owns 311,524 shares of the textile maker’s stock worth $3,598,000 after buying an additional 7,500 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Rocky Brands by 0.8% in the first quarter. Wells Fargo & Company MN now owns 355,164 shares of the textile maker’s stock worth $4,102,000 after buying an additional 2,991 shares in the last quarter. Institutional investors and hedge funds own 53.29% of the company’s stock.
Shares of Rocky Brands, Inc. (NASDAQ RCKY) opened at 14.05 on Friday. The company has a 50-day moving average of $13.26 and a 200-day moving average of $12.68. Rocky Brands, Inc. has a 1-year low of $9.95 and a 1-year high of $15.70. The stock has a market capitalization of $104.55 million, a price-to-earnings ratio of 37.87 and a beta of 0.56.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 25th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.18. The firm had revenue of $58.46 million during the quarter, compared to the consensus estimate of $61.70 million. Rocky Brands had a return on equity of 4.03% and a net margin of 1.06%. On average, equities research analysts expect that Rocky Brands, Inc. will post $0.90 EPS for the current fiscal year.
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A number of analysts have recently issued reports on RCKY shares. B. Riley reissued a “neutral” rating and set a $12.00 target price on shares of Rocky Brands in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research note on Tuesday, April 25th. TheStreet raised shares of Rocky Brands from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Finally, ValuEngine raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $13.33.
In other news, Director Robert Burton Jr. Moore bought 5,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $13.65 per share, for a total transaction of $68,250.00. Following the acquisition, the director now directly owns 8,099 shares of the company’s stock, valued at approximately $110,551.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.
About Rocky Brands
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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