Macquarie Group Ltd. acquired a new stake in Skechers USA Inc. (NYSE:SKX) during the second quarter, according to its most recent filing with the SEC. The firm acquired 9,500 shares of the company’s stock, valued at approximately $282,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SKX. Williams Jones & Associates LLC increased its position in Skechers USA by 11.5% in the second quarter. Williams Jones & Associates LLC now owns 34,555 shares of the company’s stock valued at $1,027,000 after buying an additional 3,560 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Skechers USA by 1.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 22,944 shares of the company’s stock valued at $682,000 after buying an additional 399 shares during the last quarter. Mason Street Advisors LLC acquired a new position in Skechers USA during the second quarter valued at $1,801,000. CI Investments Inc. acquired a new position in Skechers USA during the second quarter valued at $16,174,000. Finally, Public Employees Retirement System of Ohio increased its position in Skechers USA by 2.9% in the second quarter. Public Employees Retirement System of Ohio now owns 51,588 shares of the company’s stock valued at $1,533,000 after buying an additional 1,456 shares during the last quarter. Hedge funds and other institutional investors own 65.70% of the company’s stock.
Skechers USA Inc. (NYSE:SKX) opened at 22.90 on Monday. The firm’s 50-day moving average is $23.78 and its 200-day moving average is $28.14. Skechers USA Inc. has a 12 month low of $20.90 and a 12 month high of $49.28. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 13.23 and a beta of 0.15.
Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, July 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. The firm earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. During the same period last year, the company earned $0.52 earnings per share. On average, analysts anticipate that Skechers USA Inc. will post $1.80 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. Susquehanna upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price objective on the stock in a report on Friday. Cowen and Company set a $24.00 price objective on shares of Skechers USA and gave the stock a “hold” rating in a report on Thursday, September 22nd. Morgan Stanley downgraded shares of Skechers USA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $41.00 to $25.00 in a report on Wednesday, September 21st. Citigroup Inc. reiterated a “buy” rating and issued a $38.00 target price on shares of Skechers USA in a report on Tuesday, August 23rd. Finally, Argus downgraded shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.37.
In related news, General Counsel Phillip Paccione sold 1,389 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the completion of the sale, the general counsel now directly owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 21.73% of the stock is owned by corporate insiders.
About Skechers USA
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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