Royce & Associates LP lifted its holdings in Skechers USA Inc (NYSE:SKX) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,864 shares of the textile maker’s stock after buying an additional 7,500 shares during the quarter. Royce & Associates LP owned approximately 0.41% of Skechers USA worth $16,280,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in Skechers USA in the 2nd quarter worth about $105,000. Aviance Capital Management LLC bought a new position in Skechers USA in the 2nd quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Skechers USA by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after purchasing an additional 503 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Skechers USA by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after purchasing an additional 335 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new position in Skechers USA in the 2nd quarter worth about $206,000. 70.13% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Richard Siskind sold 25,500 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total value of $851,700.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas Walsh sold 750 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $34.81, for a total transaction of $26,107.50. The disclosure for this sale can be found here. Insiders sold a total of 461,250 shares of company stock worth $14,955,008 in the last quarter. Company insiders own 38.20% of the company’s stock.
Shares of Skechers USA Inc (SKX) traded up $0.80 during trading hours on Tuesday, hitting $36.44. 1,615,900 shares of the stock traded hands, compared to its average volume of 2,788,501. Skechers USA Inc has a 52-week low of $22.31 and a 52-week high of $36.51. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. The company has a market cap of $5,647.87, a PE ratio of 22.14, a PEG ratio of 1.49 and a beta of 0.15.
Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s quarterly revenue was up 16.2% on a year-over-year basis. equities analysts forecast that Skechers USA Inc will post 1.71 earnings per share for the current year.
SKX has been the topic of several research analyst reports. Vetr cut shares of Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 target price on the stock. in a research note on Monday. Cowen set a $42.00 target price on shares of Skechers USA and gave the company a “buy” rating in a research note on Monday. Susquehanna Bancshares restated a “buy” rating and set a $46.00 target price on shares of Skechers USA in a research note on Monday, December 4th. Monness Crespi & Hardt upped their target price on shares of Skechers USA from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $36.80.
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Skechers USA Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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