Los Angeles Capital Management LLC Invests $323,000 in Rocky Brands, Inc. $RCKY

by · The Markets Daily

Los Angeles Capital Management LLC purchased a new stake in Rocky Brands, Inc. (NASDAQ:RCKY – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,563 shares of the textile maker’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Rocky Brands during the first quarter valued at approximately $606,000. Raymond James Financial Inc. increased its position in shares of Rocky Brands by 6.0% during the 1st quarter. Raymond James Financial Inc. now owns 448,490 shares of the textile maker’s stock valued at $7,790,000 after purchasing an additional 25,551 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Rocky Brands by 19.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker’s stock valued at $2,372,000 after purchasing an additional 22,596 shares during the last quarter. Nuveen LLC purchased a new stake in Rocky Brands during the 1st quarter valued at $345,000. Finally, American Century Companies Inc. lifted its position in Rocky Brands by 10.0% in the first quarter. American Century Companies Inc. now owns 235,411 shares of the textile maker’s stock worth $4,089,000 after buying an additional 21,420 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Trading Down 0.6%

RCKY stock opened at $30.14 on Monday. Rocky Brands, Inc. has a 12 month low of $11.93 and a 12 month high of $33.40. The firm’s 50-day moving average is $29.08 and its 200 day moving average is $25.67. The company has a market capitalization of $225.87 million, a PE ratio of 11.00 and a beta of 2.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79.

Rocky Brands (NASDAQ:RCKY – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Weiss Ratings raised shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Baird R W upgraded shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Robert W. Baird set a $42.00 price objective on shares of Rocky Brands in a research report on Wednesday, October 29th. Finally, Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Get Our Latest Stock Report on Rocky Brands

Insider Buying and Selling

In other Rocky Brands news, SVP Byron Wortham sold 6,600 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total transaction of $197,340.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William L. Jordan sold 5,000 shares of Rocky Brands stock in a transaction on Friday, August 29th. The shares were sold at an average price of $30.10, for a total value of $150,500.00. Following the sale, the director directly owned 18,683 shares of the company’s stock, valued at approximately $562,358.30. This trade represents a 21.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,156 shares of company stock valued at $1,398,224 over the last 90 days. 5.10% of the stock is owned by insiders.

Rocky Brands Profile

(Free Report)

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.

Further Reading

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