Commonwealth Equity Services LLC lifted its holdings in shares of Skechers USA Inc (NYSE:SKX) by 40.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,672 shares of the textile maker’s stock after acquiring an additional 5,055 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Skechers USA were worth $687,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. NuWave Investment Management LLC boosted its stake in shares of Skechers USA by 1,253.8% during the 1st quarter. NuWave Investment Management LLC now owns 2,667 shares of the textile maker’s stock worth $103,000 after acquiring an additional 2,470 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Skechers USA during the 4th quarter worth approximately $139,000. Landscape Capital Management L.L.C. bought a new position in shares of Skechers USA during the 1st quarter worth approximately $205,000. Private Advisor Group LLC bought a new position in shares of Skechers USA during the 4th quarter worth approximately $222,000. Finally, Lido Advisors LLC bought a new position in shares of Skechers USA during the 1st quarter worth approximately $229,000. Institutional investors own 73.09% of the company’s stock.
Several analysts recently issued reports on SKX shares. Wedbush downgraded Skechers USA from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $34.00 in a research note on Friday, April 20th. ValuEngine downgraded Skechers USA from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. UBS Group started coverage on Skechers USA in a research note on Thursday, June 21st. They issued a “buy” rating and a $42.00 price target for the company. Buckingham Research restated a “buy” rating and issued a $48.00 price target on shares of Skechers USA in a research note on Wednesday, April 18th. Finally, Zacks Investment Research downgraded Skechers USA from a “buy” rating to a “hold” rating in a research note on Monday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $42.29.
SKX opened at $30.01 on Friday. The firm has a market capitalization of $4.75 billion, a P/E ratio of 16.86, a PEG ratio of 0.80 and a beta of 0.35. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.03. Skechers USA Inc has a 1 year low of $23.90 and a 1 year high of $43.08.
Skechers USA (NYSE:SKX) last released its earnings results on Thursday, April 19th. The textile maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Skechers USA had a return on equity of 15.30% and a net margin of 4.67%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. research analysts expect that Skechers USA Inc will post 2.06 EPS for the current fiscal year.
In other news, COO David Weinberg sold 25,210 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $28.12, for a total transaction of $708,905.20. Following the completion of the sale, the chief operating officer now directly owns 428,214 shares in the company, valued at approximately $12,041,377.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 27.88% of the company’s stock.
Skechers USA Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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