Northpointe Capital LLC acquired a new position in shares of Skechers USA Inc. (NYSE:SKX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 100,493 shares of the company’s stock, valued at approximately $2,987,000. Northpointe Capital LLC owned approximately 0.07% of Skechers USA as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Creative Planning increased its position in Skechers USA by 40.7% in the second quarter. Creative Planning now owns 8,074 shares of the company’s stock worth $240,000 after buying an additional 2,335 shares in the last quarter. LS Investment Advisors LLC increased its position in Skechers USA by 68.8% in the second quarter. LS Investment Advisors LLC now owns 8,193 shares of the company’s stock worth $243,000 after buying an additional 3,340 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in Skechers USA by 20.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 8,390 shares of the company’s stock worth $249,000 after buying an additional 1,440 shares in the last quarter. Bayesian Capital Management LP bought a new position in Skechers USA during the first quarter worth approximately $253,000. Finally, Regent Investment Management LLC increased its position in Skechers USA by 29.4% in the second quarter. Regent Investment Management LLC now owns 8,800 shares of the company’s stock worth $262,000 after buying an additional 2,000 shares in the last quarter. 65.70% of the stock is owned by institutional investors.
Shares of Skechers USA Inc. (NYSE:SKX) traded down 0.48% during trading on Wednesday, reaching $23.02. The company had a trading volume of 2,253,083 shares. The stock has a 50 day moving average price of $23.60 and a 200 day moving average price of $27.91. The firm has a market capitalization of $3.63 billion, a PE ratio of 13.30 and a beta of 0.15. Skechers USA Inc. has a 12 month low of $20.90 and a 12 month high of $49.28.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ 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 had revenue of $877.80 million for the quarter, compared to analysts’ expectations of $892.06 million. During the same period last year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Skechers USA Inc. will post $1.80 EPS for the current year.
A number of analysts recently issued reports on the stock. Standpoint Research assumed coverage on shares of Skechers USA in a research report on Monday. They set a “buy” rating and a $30.00 target price for the company. Susquehanna raised shares of Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 target price for the company in a research report on Friday, September 30th. Cowen and Company set a $24.00 target price on shares of Skechers USA and gave the stock a “hold” rating in a research report on Thursday, September 22nd. Morgan Stanley downgraded shares of Skechers USA from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $41.00 to $25.00 in a research report on Wednesday, September 21st. Finally, Citigroup Inc. reissued a “buy” rating and set a $38.00 target price on shares of Skechers USA in a research report on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Skechers USA presently has a consensus rating of “Buy” and a consensus price target of $30.34.
In related news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.73% of the stock is owned by corporate insiders.
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.
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