SignalPoint Asset Management LLC raised its stake in shares of Skechers USA Inc. (NYSE:SKX) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 15,494 shares of the company’s stock after buying an additional 1,322 shares during the period. SignalPoint Asset Management LLC’s holdings in Skechers USA were worth $460,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Northpointe Capital LLC purchased a new stake in shares of Skechers USA during the second quarter worth approximately $2,987,000. Capital Fund Management S.A. raised its stake in shares of Skechers USA by 22.3% in the second quarter. Capital Fund Management S.A. now owns 105,151 shares of the company’s stock worth $3,125,000 after buying an additional 19,191 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Skechers USA by 0.6% in the second quarter. Retirement Systems of Alabama now owns 507,341 shares of the company’s stock worth $15,078,000 after buying an additional 2,942 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Skechers USA by 0.5% in the second quarter. Boston Advisors LLC now owns 44,585 shares of the company’s stock worth $1,325,000 after buying an additional 205 shares during the last quarter. Finally, HL Financial Services LLC purchased a new stake in shares of Skechers USA during the second quarter worth approximately $1,833,000. 65.70% of the stock is currently owned by institutional investors and hedge funds.
Skechers USA Inc. (NYSE:SKX) traded down 0.48% on Wednesday, reaching $23.02. The company’s stock had a trading volume of 2,253,065 shares. Skechers USA Inc. has a 12-month low of $20.90 and a 12-month high of $49.28. The stock has a market cap of $3.63 billion, a PE ratio of 13.30 and a beta of 0.15. The company’s 50 day moving average price is $23.65 and its 200-day moving average price is $27.94.
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 the consensus estimate of $0.52 by $0.02. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. The firm earned $877.80 million during the quarter, compared to the consensus estimate of $892.06 million. During the same period in the prior year, the company posted $0.52 EPS. On average, equities analysts expect that Skechers USA Inc. will post $1.80 EPS for the current year.
A number of analysts have recently commented on the company. Monness Crespi & Hardt lowered Skechers USA from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. They noted that the move was a valuation call. Vetr raised Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 price target on the stock in a research note on Tuesday, June 7th. B. Riley reissued a “buy” rating and set a $32.00 price target on shares of Skechers USA in a research note on Monday, July 25th. Argus lowered Skechers USA from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Susquehanna upgraded Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price objective for the company in a research report on Friday, September 30th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $30.34.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the stock in a transaction that occurred on 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 transaction, the general counsel now owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.73% of the stock is owned by 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.
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.