Goelzer Investment Management Inc. lessened its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 29.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,418 shares of the textile maker’s stock after selling 14,218 shares during the period. Goelzer Investment Management Inc.’s holdings in Skechers U.S.A. were worth $838,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its position in Skechers U.S.A. by 3,136.5% in the first quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock worth $307,170,000 after purchasing an additional 10,844,421 shares during the period. Mik Capital LLC bought a new position in Skechers U.S.A. in the second quarter worth $56,285,000. Amerigo Asset Management lifted its position in Skechers U.S.A. by 38.2% in the second quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after purchasing an additional 1,694,253 shares during the period. State Street Corp lifted its position in Skechers U.S.A. by 47.2% in the second quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after purchasing an additional 1,613,977 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Skechers U.S.A. by 125.7% during the second quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock valued at $67,919,000 after acquiring an additional 1,282,260 shares during the period. Institutional investors own 70.10% of the company’s stock.
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Shares of Skechers U.S.A., Inc. (NYSE:SKX) traded up $0.34 during midday trading on Monday, reaching $32.34. The company’s stock had a trading volume of 402,173 shares, compared to its average volume of 2,843,554. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. Skechers U.S.A., Inc. has a 52-week low of $21.33 and a 52-week high of $34.87. The firm has a market cap of $5,071.04, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.36 and a beta of 0.11.
Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.42 EPS. Skechers U.S.A.’s quarterly revenue was up 16.2% on a year-over-year basis. research analysts expect that Skechers U.S.A., Inc. will post 1.69 EPS for the current year.
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Siskind sold 25,500 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total value of $851,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 386,504 shares of company stock valued at $12,319,249. 38.20% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on SKX shares. Buckingham Research set a $34.00 price objective on Skechers U.S.A. and gave the company a “buy” rating in a report on Saturday, July 22nd. Citigroup Inc. lifted their price target on Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 21st. B. Riley reiterated a “buy” rating and issued a $37.00 price objective on shares of Skechers U.S.A. in a research report on Friday, July 21st. Cowen and Company set a $35.00 price objective on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, Vetr lowered Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 target price for the company. in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Skechers U.S.A. has an average rating of “Buy” and a consensus price target of $34.74.
Skechers U.S.A. Company 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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