Connor Clark & Lunn Investment Management Ltd. Sells 10,851 Shares of Genesco Inc. (NYSE:GCO)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Genesco Inc. (NYSE:GCO) by 29.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,428 shares of the company’s stock after selling 10,851 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Genesco were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GCO. Point72 DIFC Ltd boosted its stake in 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 buying an additional 1,546 shares during the period. Quest Partners LLC boosted its stake in 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 buying an additional 657 shares during the period. SG Americas Securities LLC bought a new stake in Genesco during the fourth quarter valued at $111,000. Centiva Capital LP boosted its stake in 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 buying an additional 357 shares during the period. Finally, Inceptionr LLC bought a new stake in Genesco during the fourth quarter valued at $264,000. Institutional investors own 94.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Genesco Trading Down 3.0 %

Shares of GCO stock opened at $22.06 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.56 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $36.07 and a two-hundred day moving average price of $33.68. Genesco Inc. has a 12-month low of $20.09 and a 12-month high of $44.80. The firm has a market cap of $247.36 million, a P/E ratio of -9.08 and a beta of 2.41.

Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, March 7th. The company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $780.43 million. During the same period last year, the firm earned $2.59 EPS. Equities analysts anticipate that Genesco Inc. will post 0.94 EPS for the current fiscal year.

Insider Transactions at Genesco

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

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.