Weyco Group (WEYS) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a hold rating in a research note published on Tuesday morning.

Separately, BidaskClub upgraded Weyco Group from a strong sell rating to a sell rating in a research note on Tuesday, October 16th.

NASDAQ:WEYS opened at $32.83 on Tuesday. The company has a market capitalization of $323.90 million, a price-to-earnings ratio of 20.31 and a beta of 0.53. Weyco Group has a 12-month low of $27.02 and a 12-month high of $39.93.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings data on Tuesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter. The firm had revenue of $60.89 million for the quarter. Weyco Group had a return on equity of 7.87% and a net margin of 6.13%.

In other news, CFO John Wittkowske sold 4,000 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $39.08, for a total transaction of $156,320.00. Following the transaction, the chief financial officer now owns 98,610 shares in the company, valued at $3,853,678.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael Bernsteen sold 1,100 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $35.58, for a total value of $39,138.00. Following the transaction, the vice president now owns 8,056 shares in the company, valued at approximately $286,632.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,078 shares of company stock worth $383,747. 43.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WEYS. Hartford Investment Management Co. bought a new position in shares of Weyco Group during the second quarter worth approximately $233,000. First Trust Advisors LP bought a new position in shares of Weyco Group during the third quarter worth approximately $337,000. Spark Investment Management LLC bought a new position in shares of Weyco Group during the second quarter worth approximately $414,000. Schwab Charles Investment Management Inc. increased its stake in shares of Weyco Group by 21.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 36,504 shares of the textile maker’s stock worth $1,329,000 after purchasing an additional 6,442 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Weyco Group by 30.2% during the second quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock worth $2,355,000 after purchasing an additional 14,999 shares during the period. Institutional investors own 30.87% of the company’s stock.

Weyco Group Company Profile

Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.

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