Short Interest in Weyco Group, Inc. (NASDAQ:WEYS) Declines By 21.3%

Weyco Group, Inc. (NASDAQ:WEYS) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 40,300 shares, a drop of 21.3% from the November 15th total of 51,200 shares. Based on an average daily volume of 13,100 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.7% of the company’s stock are sold short.

Insider Activity

In related news, VP Allison Woss sold 1,463 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the transaction, the vice president now owns 7,623 shares of the company’s stock, valued at approximately $288,225.63. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Judy Anderson sold 2,893 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.98, for a total value of $109,876.14. Following the transaction, the chief financial officer now owns 13,100 shares of the company’s stock, valued at approximately $497,538. This trade represents a 18.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,685 shares of company stock worth $214,730. 38.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in Weyco Group during the 2nd quarter valued at $25,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Weyco Group by 2,329.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,654 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Weyco Group by 34.1% in the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock valued at $68,000 after buying an additional 511 shares in the last quarter. Barclays PLC raised its holdings in shares of Weyco Group by 263.8% in the third quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock valued at $273,000 after buying an additional 5,803 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in Weyco Group by 23.4% during the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after buying an additional 1,893 shares in the last quarter. 23.59% of the stock is owned by institutional investors and hedge funds.

Weyco Group Stock Up 1.7 %

Shares of Weyco Group stock opened at $36.10 on Monday. Weyco Group has a 12-month low of $27.05 and a 12-month high of $41.05. The stock has a market capitalization of $345.12 million, a P/E ratio of 11.95 and a beta of 0.73. The company has a 50-day simple moving average of $35.20 and a 200 day simple moving average of $33.11.

Weyco Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th will be paid a $2.26 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.04 dividend on an annualized basis and a dividend yield of 25.04%. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. Weyco Group’s payout ratio is 34.44%.

Analyst Ratings Changes

Separately, StockNews.com raised Weyco Group from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

Weyco Group Company Profile

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.