Thompson Investment Management Inc. increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 140,786 shares of the textile maker’s stock after buying an additional 6,899 shares during the period. Thompson Investment Management Inc. owned about 0.09% of Skechers U.S.A. worth $3,532,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Seven Eight Capital LP acquired a new position in Skechers U.S.A. during the 2nd quarter valued at about $105,000. Aviance Capital Management LLC acquired a new position in Skechers U.S.A. during the 2nd quarter valued at about $109,000. Exane Derivatives acquired a new position in Skechers U.S.A. during the 2nd quarter valued at about $118,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Skechers U.S.A. by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after purchasing an additional 503 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Skechers U.S.A. by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 335 shares during the period. 70.10% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jeffrey Greenberg sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.72, for a total value of $951,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of the sale, the president now owns 251,679 shares in the company, valued at $8,018,492.94. The disclosure for this sale can be found here. Insiders sold a total of 386,504 shares of company stock worth $12,319,249 over the last quarter. Insiders own 21.73% of the company’s stock.
Skechers U.S.A., Inc. (SKX) traded up $0.53 during midday trading on Thursday, hitting $32.97. 575,585 shares of the company were exchanged, compared to its average volume of 2,831,095. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30. Skechers U.S.A., Inc. has a twelve month low of $21.33 and a twelve month high of $34.87. The company has a market cap of $5,118.58, a P/E ratio of 20.06, a P/E/G ratio of 1.37 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 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. analysts forecast that Skechers U.S.A., Inc. will post 1.69 EPS for the current year.
SKX has been the subject of a number of analyst reports. Vetr lowered shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating and set a $33.73 target price for the company. in a research note on Monday, October 23rd. Susquehanna Bancshares Inc reissued a “buy” rating and set a $34.00 target price on shares of Skechers U.S.A. in a research note on Tuesday, October 10th. Zacks Investment Research lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Citigroup Inc. boosted their target price on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Wells Fargo & Company boosted their target price on shares of Skechers U.S.A. from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.74.
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Skechers U.S.A. 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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