Raymond James Exits Rocky Brands (RCKY) Stake as of Dec 31, 2023
Ticker: RCKY · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 895456
| Field | Detail |
|---|---|
| Company | Rocky Brands, Inc. (RCKY) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, divestment, ownership-change
TL;DR
**Raymond James dumped all its RCKY shares; big red flag for the stock.**
AI Summary
Raymond James & Associates, Inc. filed an amended Schedule 13G/A on January 26, 2024, indicating a change in their beneficial ownership of Rocky Brands Inc. (RCKY) common shares as of December 31, 2023. The filing shows that Raymond James now holds 0 shares with sole voting power and 0 shares with shared voting power, a significant decrease from previous filings. This matters to investors because it signals that a major institutional holder has completely divested its stake, which could be interpreted as a lack of confidence in the company's future performance.
Why It Matters
This filing indicates a major institutional investor, Raymond James & Associates, has sold off its entire position in Rocky Brands, which could signal a bearish outlook to other investors.
Risk Assessment
Risk Level: medium — The complete divestment by an institutional investor like Raymond James could put downward pressure on the stock price and indicates potential concerns about the company's future.
Analyst Insight
A smart investor would investigate the reasons behind Raymond James's complete divestment from Rocky Brands Inc. and consider if this signals underlying issues before making any investment decisions. This could be a signal to reduce exposure or avoid initiating a new position.
Key Numbers
- 0 — Sole Voting Power Shares (Raymond James & Associates, Inc. now holds zero shares with sole voting power in Rocky Brands Inc.)
- 0 — Shared Voting Power Shares (Raymond James & Associates, Inc. now holds zero shares with shared voting power in Rocky Brands Inc.)
- 774515100 — CUSIP Number (Identifies the specific class of securities, Common Shares of Rocky Brands Inc.)
- 12/31/2023 — Date of Event (The date when the change in beneficial ownership occurred, triggering the filing.)
Key Players & Entities
- Raymond James & Associates, Inc. (company) — the reporting person who filed the SC 13G/A
- Rocky Brands Inc. (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 26, 2024 (date) — the filing date of the SC 13G/A
- 0 (dollar_amount) — number of shares with sole voting power
- 0 (dollar_amount) — number of shares with shared voting power
Forward-Looking Statements
- Rocky Brands Inc. (RCKY) stock price may experience downward pressure in the short term. (Rocky Brands Inc.) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in RCKY following Raymond James's divestment. (Institutional Investors) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing by Raymond James & Associates, Inc. regarding Rocky Brands Inc.?
This SC 13G/A filing is an amendment (Amendment No. 3) to a previous Schedule 13G, indicating a change in the beneficial ownership of common shares of Rocky Brands Inc. by Raymond James & Associates, Inc. as of December 31, 2023.
How many shares of Rocky Brands Inc. does Raymond James & Associates, Inc. beneficially own according to this filing?
According to the filing, Raymond James & Associates, Inc. beneficially owns 0 shares with sole voting power and 0 shares with shared voting power in Rocky Brands Inc. as of December 31, 2023.
What was the date of the event that required Raymond James & Associates, Inc. to file this statement?
The date of the event which required the filing of this statement was December 31, 2023, as stated on the cover page of the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the checked box on the cover page.
What is the CUSIP number for the class of securities reported in this filing?
The CUSIP number for the Common Shares of Rocky Brands Inc. is 774515100, as listed on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding ROCKY BRANDS, INC. (RCKY).