Stock Traders Buy Large Volume of Genesco Put Options (GCO)

Genesco Inc. (NYSE:GCO) saw unusually large options trading on Thursday. Stock traders purchased 1,534 put options on the stock. This is an increase of 2,001% compared to the average volume of 73 put options.

In other Genesco news, SVP Mimi Eckel Vaughn acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the transaction, the senior vice president now directly owns 87,140 shares in the company, valued at $2,105,302.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert J. Dennis bought 25,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $23.81 per share, with a total value of $595,250.00. Following the completion of the transaction, the chairman now directly owns 224,935 shares of the company’s stock, valued at approximately $5,355,702.35. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Genesco by 8.5% in the first quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock valued at $203,000 after purchasing an additional 287 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock valued at $131,000 after purchasing an additional 1,703 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Genesco during the second quarter worth $144,000. First Quadrant L P CA bought a new stake in Genesco during the second quarter worth $153,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Genesco during the second quarter worth $251,000. Institutional investors own 97.82% of the company’s stock.

GCO has been the subject of several research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $39.00 target price on shares of Genesco in a research report on Sunday, October 1st. Zacks Investment Research cut Genesco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group reissued a “hold” rating and issued a $27.00 price target on shares of Genesco in a research note on Thursday, August 31st. BidaskClub cut Genesco from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Buckingham Research increased their price target on Genesco from $23.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.29.

Shares of Genesco (GCO) opened at $27.60 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.29. Genesco has a one year low of $20.90 and a one year high of $72.00. The company has a market capitalization of $542.79, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37.

Genesco (NYSE:GCO) last announced its quarterly earnings data on Friday, December 1st. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.10). Genesco had a negative net margin of 4.24% and a positive return on equity of 6.92%. The firm had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up .8% on a year-over-year basis. equities research analysts expect that Genesco will post 3.33 EPS for the current fiscal year.

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Genesco Company Profile

Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.

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