What’s Propelling Weyco Group, Inc. (WEYS) to Increase? The Stock Formed a Bullish Multiple Top Chart Pattern

July 14, 2018 - By Tina Thibodeau

Investors sentiment decreased to 1.12 in Q1 2018. Its down 0.71, from 1.83 in 2017Q4. It turned negative, as 4 investors sold Weyco Group, Inc. shares while 21 reduced holdings. 11 funds opened positions while 17 raised stakes. 3.13 million shares or 1.44% more from 3.08 million shares in 2017Q4 were reported.
Manufacturers Life Ins The stated it has 5,559 shares. Geode Cap Mngmt Lc holds 0% in Weyco Group, Inc. (NASDAQ:WEYS) or 56,242 shares. Ameriprise Fincl reported 15,650 shares. Group Inc Inc holds 3,952 shares. Axa accumulated 24,780 shares. Stifel Fin holds 0% or 10,540 shares. Tower Cap Ltd Company (Trc), a New York-based fund reported 60 shares. Marietta Investment Prns Ltd Llc has invested 0.07% in Weyco Group, Inc. (NASDAQ:WEYS). Vanguard Group owns 0% invested in Weyco Group, Inc. (NASDAQ:WEYS) for 264,703 shares. Commercial Bank Of Montreal Can has invested 0% in Weyco Group, Inc. (NASDAQ:WEYS). 49,700 are owned by Renaissance Technologies Lc. First Tru Advsrs L P stated it has 0% in Weyco Group, Inc. (NASDAQ:WEYS). Raymond James And Associates stated it has 0% of its portfolio in Weyco Group, Inc. (NASDAQ:WEYS). 6,136 are owned by Parametric Port Assocs Ltd Liability Corp. Bessemer Grp Inc Incorporated reported 12,400 shares.

Since March 14, 2018, it had 0 insider buys, and 21 sales for $4.02 million activity. Chang Tina M also sold $35,327 worth of Weyco Group, Inc. (NASDAQ:WEYS) on Wednesday, May 9. Nettles Cory L had sold 966 shares worth $35,327. The insider Woss Allison sold $47,066. $32,311 worth of Weyco Group, Inc. (NASDAQ:WEYS) was sold by Combs Dustin on Friday, May 11. Another trade for 24,850 shares valued at $908,765 was made by WITTKOWSKE JOHN on Wednesday, May 9. Schiff Kevin sold $74,060 worth of stock.

The stock of Weyco Group, Inc. (WEYS) shows a multiple tops pattern with $39.25 target or 7.00 % above today’s $36.68 share price. The 6 months chart pattern indicates low risk for the $373.91 million company. It was reported on Jul, 14 by Finviz.com. If the $39.25 price target is reached, the company will be worth $26.17 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.74% or $0.27 during the last trading session, reaching $36.68. About 5,391 shares traded. Weyco Group, Inc. (NASDAQ:WEYS) has risen 25.82% since July 14, 2017 and is uptrending. It has outperformed by 13.25% the S&P500.

Another recent and important Weyco Group, Inc. (NASDAQ:WEYS) news was published by Globenewswire.com which published an article titled: “WEYCO Group, Inc. Second Quarter 2018 Earnings Conference Call” on July 13, 2018.

Weyco Group, Inc., together with its subsidiaries, engages in the design and distribution of footwear. The company has market cap of $373.91 million. It operates in two divisions, North American Wholesale and North American Retail. It has a 22.92 P/E ratio. The firm creates and markets footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.

Weyco Group, Inc. (NASDAQ:WEYS) Institutional Positions Chart

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