Rocky Brands, Inc. (NASDAQ:RCKY) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 40.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,597 shares of the textile maker’s stock after selling 5,760 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Rocky Brands were worth $274,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its position 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 acquiring an additional 1,332 shares during the period. Victory Capital Management Inc. boosted its holdings in Rocky Brands by 29.5% in the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 618 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Rocky Brands in the second quarter valued at $149,000. Inspire Advisors LLC purchased a new stake in Rocky Brands in the third quarter valued at $339,000. Finally, Summit Global Investments purchased a new stake in Rocky Brands in the third quarter valued at $341,000. 75.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RCKY has been the topic of several recent research reports. Robert W. Baird lowered their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

Rocky Brands Trading Down 1.2 %

RCKY opened at $20.96 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.85. The company’s 50 day simple moving average is $27.79 and its two-hundred day simple moving average is $31.88. Rocky Brands, Inc. has a 1-year low of $19.65 and a 1-year high of $40.14. The firm has a market capitalization of $156.24 million, a price-to-earnings ratio of 11.78 and a beta of 2.13.

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

Rocky Brands Company Profile

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.