Royce & Associates LP Sells 57,039 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Royce & Associates LP lessened its stake in Rocky Brands, Inc. (NASDAQ:RCKY) by 23.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 190,110 shares of the textile maker’s stock after selling 57,039 shares during the quarter. Royce & Associates LP’s holdings in Rocky Brands were worth $6,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RCKY. Victory Capital Management Inc. raised its position in Rocky Brands by 29.5% during the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock worth $100,000 after acquiring an additional 618 shares in the last quarter. Yarger Wealth Strategies LLC increased its stake in shares of Rocky Brands by 7.7% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock worth $360,000 after purchasing an additional 692 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Rocky Brands by 59.5% in the 1st quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after purchasing an additional 1,332 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Rocky Brands by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after purchasing an additional 2,962 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Rocky Brands in the 2nd quarter valued at about $149,000. 75.06% of the stock is owned by institutional investors.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $20.96 on Monday. The company has a market capitalization of $156.24 million, a price-to-earnings ratio of 11.78 and a beta of 2.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 2.79. Rocky Brands, Inc. has a 52 week low of $19.65 and a 52 week high of $40.14. The company has a 50-day simple moving average of $27.79 and a 200 day simple moving average of $31.88.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.22). The firm had revenue of $114.55 million for the quarter. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird dropped their price objective on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. StockNews.com lowered Rocky Brands from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

About Rocky Brands

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.