Rocky Brands (NASDAQ:RCKY) insider Curtis A. Loveland sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $27.04, for a total transaction of $202,800.00. Following the sale, the insider now directly owns 83,765 shares of the company’s stock, valued at approximately $2,265,005.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of RCKY stock opened at $26.65 on Monday. The company has a market cap of $197.39 million, a PE ratio of 19.04 and a beta of 0.30. Rocky Brands has a 52 week low of $12.20 and a 52 week high of $27.90.
Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, April 24th. The textile maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. The company had revenue of $61.39 million during the quarter, compared to the consensus estimate of $61.60 million. Rocky Brands had a net margin of 4.51% and a return on equity of 7.40%. research analysts expect that Rocky Brands will post 1.5 earnings per share for the current year.
Rocky Brands announced that its board has initiated a stock repurchase plan on Monday, March 5th that allows the company to repurchase $7.50 million in shares. This repurchase authorization allows the textile maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Rocky Brands in the 1st quarter valued at $501,000. California Public Employees Retirement System grew its position in Rocky Brands by 8.3% in 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 purchasing an additional 4,076 shares during the period. ClariVest Asset Management LLC grew its position in Rocky Brands by 12.6% in the 1st quarter. ClariVest Asset Management LLC now owns 64,242 shares of the textile maker’s stock valued at $1,378,000 after purchasing an additional 7,173 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in Rocky Brands in the 4th quarter valued at $401,000. Finally, Macquarie Group Ltd. grew its position in Rocky Brands by 15.4% in the 4th quarter. Macquarie Group Ltd. now owns 40,653 shares of the textile maker’s stock valued at $768,000 after purchasing an additional 5,424 shares during the period. 58.69% of the stock is owned by institutional investors and hedge funds.
RCKY has been the subject of several recent analyst reports. ValuEngine raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $19.00 price objective on shares of Rocky Brands in a research report on Friday, February 23rd. Finally, Zacks Investment Research downgraded shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 25th.
Rocky Brands Company Profile
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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