Rocky Brands Inc (RCKY) Insider Curtis A. Loveland Sells 500 Shares
Rocky Brands Inc (NASDAQ:RCKY) insider Curtis A. Loveland sold 500 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $30.25, for a total transaction of $15,125.00. Following the sale, the insider now directly owns 84,066 shares of the company’s stock, valued at approximately $2,542,996.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of RCKY stock traded up $0.43 on Friday, reaching $28.88. 7,942 shares of the company were exchanged, compared to its average volume of 45,980. The stock has a market capitalization of $214.57 million, a P/E ratio of 24.90 and a beta of 0.17. Rocky Brands Inc has a 1 year low of $13.10 and a 1 year high of $33.45.
Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 31st. The textile maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The business had revenue of $58.21 million during the quarter, compared to analysts’ expectations of $55.40 million. Rocky Brands had a net margin of 4.99% and a return on equity of 8.12%. equities research analysts expect that Rocky Brands Inc will post 1.7 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in RCKY. Raymond James Financial Services Advisors Inc. purchased a new stake in Rocky Brands during the 2nd quarter valued at about $430,000. Millennium Management LLC purchased a new stake in Rocky Brands during the 1st quarter valued at about $384,000. ClariVest Asset Management LLC grew its stake in Rocky Brands by 12.6% during the 1st quarter. ClariVest Asset Management LLC now owns 64,242 shares of the textile maker’s stock valued at $1,378,000 after acquiring an additional 7,173 shares in the last quarter. California Public Employees Retirement System grew its stake in Rocky Brands by 8.3% during the 1st quarter. California Public Employees Retirement System now owns 53,373 shares of the textile maker’s stock valued at $1,145,000 after acquiring an additional 4,076 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Rocky Brands during the 2nd quarter valued at about $220,000. 71.16% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. ValuEngine cut shares of Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 28th. Zacks Investment Research cut shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th.
About Rocky Brands
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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