Intact Investment Management Inc. decreased its holdings in Skechers USA Inc (NYSE:SKX) by 13.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,400 shares of the textile maker’s stock after selling 4,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Skechers USA were worth $797,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Cerebellum GP LLC acquired a new stake in shares of Skechers USA in the 2nd quarter valued at $63,000. Fifth Third Bancorp grew its stake in Skechers USA by 16.1% in the first quarter. Fifth Third Bancorp now owns 2,901 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 403 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Skechers USA in the first quarter valued at about $139,000. World Asset Management Inc bought a new stake in shares of Skechers USA in the second quarter valued at about $235,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Skechers USA in the first quarter valued at about $241,000. Hedge funds and other institutional investors own 76.18% of the company’s stock.
SKX opened at $29.28 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.96 and a current ratio of 2.91. The business’s 50-day simple moving average is $30.16 and its 200 day simple moving average is $30.84. The firm has a market capitalization of $4.66 billion, a PE ratio of 29.24 and a beta of 1.22. Skechers USA Inc has a 52-week low of $17.06 and a 52-week high of $44.50.
Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, July 23rd. The textile maker reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.23. The firm had revenue of $729.47 million for the quarter, compared to analyst estimates of $676.69 million. Skechers USA had a return on equity of 6.24% and a net margin of 3.08%. On average, research analysts forecast that Skechers USA Inc will post 0.47 earnings per share for the current year.
A number of analysts have recently commented on SKX shares. Wells Fargo & Co restated a “buy” rating on shares of Skechers USA in a report on Thursday, May 14th. B. Riley boosted their price target on Skechers USA from $37.00 to $39.00 in a report on Friday, July 24th. Deutsche Bank boosted their price target on Skechers USA from $34.00 to $39.00 and gave the company a “buy” rating in a report on Friday, July 24th. Susquehanna Bancshares upped their target price on Skechers USA from $32.00 to $39.00 in a report on Friday, July 10th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $40.00 target price on shares of Skechers USA in a report on Monday, July 20th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Skechers USA currently has an average rating of “Buy” and an average price target of $38.68.
In other Skechers USA news, CEO Robert Greenberg sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $26.19, for a total value of $1,309,500.00. Following the sale, the chief executive officer now owns 600,000 shares in the company, valued at $15,714,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 37,500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $26.19, for a total value of $982,125.00. Following the completion of the sale, the chief operating officer now owns 401,654 shares in the company, valued at approximately $10,519,318.26. The disclosure for this sale can be found here. Insiders sold 115,052 shares of company stock worth $3,086,092 in the last 90 days. Corporate insiders own 28.08% 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.
Read More: How Buying a Call Option Works
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers USA Inc (NYSE:SKX).
Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.