Weyco Group, Inc. (NASDAQ:WEYS) Sees Significant Decrease in Short Interest

Weyco Group, Inc. (NASDAQ:WEYS) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 67,269 shares, a drop of 28.7% from the December 15th total of 94,402 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 13,439 shares, the days-to-cover ratio is currently 5.0 days. Based on an average trading volume of 13,439 shares, the days-to-cover ratio is currently 5.0 days. Approximately 1.1% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, VP Dustin Combs sold 1,059 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $30.09, for a total transaction of $31,865.31. Following the sale, the vice president owned 3,455 shares in the company, valued at approximately $103,960.95. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 35.50% of the company’s stock.

Institutional Trading of Weyco Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in Weyco Group by 7.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker’s stock valued at $235,000 after acquiring an additional 563 shares during the period. BNP Paribas Financial Markets lifted its holdings in Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 832 shares in the last quarter. IFG Advisory LLC grew its position in shares of Weyco Group by 14.1% in the third quarter. IFG Advisory LLC now owns 7,527 shares of the textile maker’s stock valued at $226,000 after purchasing an additional 932 shares during the period. First Business Financial Services Inc. increased its stake in shares of Weyco Group by 8.1% during the third quarter. First Business Financial Services Inc. now owns 14,156 shares of the textile maker’s stock worth $426,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Weyco Group by 172.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,133 shares during the last quarter. 23.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Weyco Group Trading Down 1.6%

Weyco Group stock traded down $0.50 during mid-day trading on Friday, hitting $30.86. The company had a trading volume of 11,229 shares, compared to its average volume of 9,043. The company has a market capitalization of $294.65 million, a price-to-earnings ratio of 12.15 and a beta of 0.97. Weyco Group has a 12-month low of $25.51 and a 12-month high of $37.25. The company’s fifty day moving average is $31.26 and its 200-day moving average is $30.70.

Weyco Group (NASDAQ:WEYS) last posted its earnings results on Tuesday, November 4th. The textile maker reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $73.12 million during the quarter. Weyco Group had a net margin of 8.71% and a return on equity of 9.82%.

Weyco Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, November 17th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, November 17th. Weyco Group’s payout ratio is currently 42.52%.

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.