Capital Fund Management S.A. increased its position in Skechers USA Inc. (NYSE:SKX) by 22.3% during the second quarter, Holdings Channel reports. The institutional investor owned 105,151 shares of the company’s stock after buying an additional 19,191 shares during the period. Capital Fund Management S.A.’s holdings in Skechers USA were worth $3,125,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Skechers USA by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,832,942 shares of the company’s stock worth $116,713,000 after buying an additional 25,636 shares in the last quarter. State Street Corp boosted its stake in Skechers USA by 1.7% in the first quarter. State Street Corp now owns 3,551,897 shares of the company’s stock worth $108,158,000 after buying an additional 59,148 shares in the last quarter. Norges Bank acquired a new stake in Skechers USA during the fourth quarter worth approximately $31,971,000. Renaissance Technologies LLC boosted its stake in Skechers USA by 1.5% in the first quarter. Renaissance Technologies LLC now owns 951,900 shares of the company’s stock worth $28,985,000 after buying an additional 14,000 shares in the last quarter. Finally, AXA boosted its stake in Skechers USA by 11.4% in the first quarter. AXA now owns 811,864 shares of the company’s stock worth $24,721,000 after buying an additional 82,900 shares in the last quarter. 65.70% of the stock is currently owned by institutional investors.
Shares of Skechers USA Inc. (NYSE:SKX) traded up 0.35% during mid-day trading on Tuesday, reaching $23.13. 2,260,539 shares of the company’s stock traded hands. Skechers USA Inc. has a 12-month low of $20.90 and a 12-month high of $49.28. The company’s 50-day moving average price is $23.65 and its 200-day moving average price is $27.94. The stock has a market capitalization of $3.65 billion, a PE ratio of 13.36 and a beta of 0.15.
Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.50 earnings per share 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 return on equity of 20.20% and a net margin of 7.79%. During the same quarter last year, the company posted $0.52 EPS. Analysts anticipate that Skechers USA Inc. will post $1.80 earnings per share for the current year.
A number of research firms have commented on SKX. Standpoint Research began coverage on Skechers USA in a report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Susquehanna raised Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price target on the stock in a report on Friday. Cowen and Company set a $24.00 price target on Skechers USA and gave the company a “hold” rating in a report on Thursday, September 22nd. Morgan Stanley cut Skechers USA from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $41.00 to $25.00 in a report on Wednesday, September 21st. Finally, Citigroup Inc. reissued a “buy” rating and set a $38.00 price target on shares of Skechers USA in a report on Tuesday, August 23rd. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $30.34.
In related news, General Counsel Phillip Paccione sold 1,389 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $24.12, for a total transaction of $33,502.68. Following the completion of the transaction, the general counsel now owns 90,445 shares in the company, valued at approximately $2,181,533.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.73% of the company’s stock.
Skechers USA 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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.