Mike Brooks Sells 2,500 Shares of Rocky Brands Inc (RCKY) Stock
Rocky Brands Inc (NASDAQ:RCKY) Chairman Mike Brooks sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $30.81, for a total value of $77,025.00. Following the completion of the transaction, the chairman now directly owns 316,472 shares of the company’s stock, valued at approximately $9,750,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Rocky Brands stock traded up $0.25 on Friday, hitting $29.90. The stock had a trading volume of 200 shares, compared to its average volume of 76,374. Rocky Brands Inc has a twelve month low of $12.80 and a twelve month high of $33.45. The company has a market capitalization of $230.14 million, a P/E ratio of 25.60 and a beta of 0.17.
Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, July 31st. The textile maker reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.14. Rocky Brands had a return on equity of 8.12% and a net margin of 4.99%. The company had revenue of $58.21 million during the quarter, compared to the consensus estimate of $55.40 million. equities research analysts predict that Rocky Brands Inc will post 1.7 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of Rocky Brands in the second quarter valued at approximately $129,000. Bank of Montreal Can bought a new stake in Rocky Brands in the second quarter valued at approximately $155,000. Engineers Gate Manager LP bought a new stake in Rocky Brands in the second quarter valued at approximately $220,000. Strs Ohio bought a new stake in Rocky Brands in the second quarter valued at approximately $246,000. Finally, Spark Investment Management LLC bought a new stake in Rocky Brands in the second quarter valued at approximately $291,000. 61.10% of the stock is owned by institutional investors.
RCKY has been the subject of several recent research reports. Zacks Investment Research downgraded Rocky Brands from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Robert W. Baird upped their price objective on Rocky Brands from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, April 25th.
Rocky Brands Company Profile
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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