Weyco Group (WEYS) Upgraded to Buy at BidaskClub

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

Separately, TheStreet upgraded Weyco Group from a c+ rating to a b- rating in a report on Thursday, November 16th.

Shares of Weyco Group (WEYS) opened at $30.75 on Tuesday. The stock has a market capitalization of $305.05, a price-to-earnings ratio of 19.34 and a beta of 0.72. Weyco Group has a 1-year low of $23.75 and a 1-year high of $33.78.

In related news, VP Judy Anderson sold 2,445 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $28.78, for a total value of $70,367.10. Following the sale, the vice president now owns 6,250 shares in the company, valued at approximately $179,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 42.81% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of WEYS. Acadian Asset Management LLC acquired a new position in Weyco Group during the 4th quarter worth $113,000. Wells Fargo & Company MN grew its stake in Weyco Group by 71.2% during the 3rd quarter. Wells Fargo & Company MN now owns 6,691 shares of the textile maker’s stock worth $191,000 after purchasing an additional 2,782 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Weyco Group during the 2nd quarter worth $200,000. Alliancebernstein L.P. acquired a new position in Weyco Group during the 2nd quarter worth $212,000. Finally, New York State Common Retirement Fund grew its stake in Weyco Group by 41.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,500 shares of the textile maker’s stock worth $237,000 after purchasing an additional 2,499 shares in the last quarter. Hedge funds and other institutional investors own 31.89% of the company’s stock.

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Weyco Group Company Profile

Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe (Florsheim Europe).

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