Weyco Group (NASDAQ:WEYS) Stock Passes Above 200 Day Moving Average – Here’s Why

Weyco Group, Inc. (NASDAQ:WEYS) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.69 and traded as high as $32.54. Weyco Group shares last traded at $31.27, with a volume of 7,677 shares traded.

Wall Street Analyst Weigh In

WEYS has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Weyco Group from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Weyco Group Stock Down 3.8%

The stock’s 50 day moving average price is $31.31 and its 200-day moving average price is $30.69. The stock has a market capitalization of $298.63 million, a PE ratio of 12.31 and a beta of 0.99.

Hedge Funds Weigh In On Weyco Group

A number of institutional investors have recently modified their holdings of WEYS. Associated Banc Corp purchased a new stake in shares of Weyco Group in the third quarter valued at approximately $1,345,000. IFG Advisory LLC bought a new stake in Weyco Group during the 2nd quarter valued at $219,000. Barclays PLC lifted its holdings in shares of Weyco Group by 9.9% in the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock worth $294,000 after buying an additional 869 shares during the period. JPMorgan Chase & Co. grew its position in shares of Weyco Group by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,304 shares of the textile maker’s stock worth $280,000 after buying an additional 1,837 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Weyco Group by 7.8% during the third quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker’s stock valued at $235,000 after buying an additional 563 shares during the period. 23.59% of the stock is owned by hedge funds and other institutional investors.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.