Kingsview Wealth Management LLC Purchases Shares of 11,008 Guess’, Inc. (NYSE:GES)

Posted by Defense World Staff on Jun 12th, 2023

Kingsview Wealth Management LLC acquired a new stake in Guess’, Inc. (NYSE:GES – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,008 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GES. PNC Financial Services Group Inc. raised its holdings in shares of Guess’ by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,692 shares of the company’s stock valued at $59,000 after purchasing an additional 581 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Guess’ by 48.5% during the first quarter. MetLife Investment Management LLC now owns 22,428 shares of the company’s stock worth $490,000 after buying an additional 7,322 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Guess’ by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,609 shares of the company’s stock worth $734,000 after buying an additional 4,152 shares during the last quarter. APG Asset Management N.V. acquired a new position in Guess’ during the first quarter worth $391,000. Finally, Great West Life Assurance Co. Can increased its holdings in Guess’ by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 37,147 shares of the company’s stock worth $833,000 after buying an additional 2,112 shares during the last quarter. 58.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GES shares. TheStreet downgraded shares of Guess’ from a “b” rating to a “c+” rating in a report on Wednesday, May 24th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price objective on shares of Guess’ in a report on Wednesday, March 15th. StockNews.com upgraded shares of Guess’ from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Finally, Small Cap Consu reiterated a “buy” rating on shares of Guess’ in a report on Tuesday, March 28th.

Guess’ Price Performance

Shares of Guess’ stock remained flat at $20.77 during trading on Monday. 292,596 shares of the stock were exchanged, compared to its average volume of 826,776. The firm’s 50 day moving average price is $18.97 and its 200-day moving average price is $20.41. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.99 and a beta of 1.95. Guess’, Inc. has a 52 week low of $14.27 and a 52 week high of $24.15. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 1.46.

Guess’ (NYSE:GES – Get Rating) last posted its quarterly earnings data on Wednesday, May 24th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.21. Guess’ had a net margin of 4.87% and a return on equity of 29.04%. The business had revenue of $569.80 million during the quarter, compared to analysts’ expectations of $555.63 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. Guess”s revenue was down 4.0% compared to the same quarter last year. Equities analysts predict that Guess’, Inc. will post 2.81 earnings per share for the current year.

Guess’ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Wednesday, June 7th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.78%. This is a boost from Guess”s previous quarterly dividend of $0.23. Guess”s dividend payout ratio is 63.49%.

Insider Activity

In other news, Director Deborah Weinswig sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $20.67, for a total value of $413,400.00. Following the completion of the transaction, the director now owns 26,069 shares of the company’s stock, valued at $538,846.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 41.00% of the stock is currently owned by insiders.

Guess’ Profile

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Guess?, Inc engages in designing, marketing, distributing and licensing contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.