Skechers U.S.A., Inc. is being sold by the State of New Jersey Common Pension Fund D. (NYSE:SKX)
According to the most recent Form 13F filing submitted to the Securities and Exchange Commission by the State of New Jersey Common Pension Fund D, the fund’s holdings of Skechers U.S.A., Inc. (NYSE: S.K.X.) were reduced during the third quarter of this year. Following the transaction during the quarter in which 3,588 shares of the textile manufacturer’s stock were sold, the institutional investor was left with 71,687 shares of the company’s stock. The most recent filing that the State of New Jersey Common Pension Fund D made with the S.E.C. revealed that the fund owned a stake in Skechers U.S.A. valued at $2,274,000.
Other large investors have also been selling off their S.K.X. holdings, which has led to a drop in the stock’s price. Allworth Financial L.P. increased the amount of Skechers U.S.A. stock it owned during the third quarter to 162.5%, bringing the total to that percentage. After making an additional purchase of 489 shares during the most recent quarter of the company’s fiscal year, Allworth Financial L.P. now holds a total of 790 shares of the company’s stock. There is 25 thousand dollars worth of shares in the company. A $37,000 investment was made in the stock of Skechers U.S.A. by Trust Co. of Vermont during the second quarter of 2018. Byrne Asset Management L.L.C. spent $40,000 to acquire an additional holding in Skechers U.S.A. during the third quarter of the fiscal year. The investment firm Covestor Ltd. increased its ownership stake in Skechers U.S.A. by 88.9% during the year’s first three months. Covestor Ltd. now directly owns 1,360 shares of the textile company’s stock, valued at $55,000 after the company made an additional purchase of 640 shares during the most recent fiscal quarter. In the second quarter, SeaCrest Wealth Management L.L.C. spent sixty thousand dollars to acquire a new position at Skechers U.S.A. However, this is not the least of SeaCrest Wealth Management L.L.C.’s accomplishments. The vast majority of the company’s stock is owned by institutional investors and hedge funds, making up 93.29 percent of the total.
For $46.56 per share, trading on the NYSE SKX got underway on Tuesday. The moving average price of the company over the past 200 days is $38.40, and the moving average price of the company over the last 50 days is $41.78. Skechers U.S.A., Inc. hit an all-time low of $31.28 during the prior year, while the company reached an all-time high of $49.89 during the same period. The ratio of debt to equity is currently at 0.06, the ratio of current too quick is currently at 2.27, and the ratio of debt to quick is currently at 1.14. The stock’s beta value is 1.28, and its price-to-earnings ratio stands at 10.44, giving it a market capitalization of $7.22 billion.
On Tuesday, October 25th, Skechers U.S.A. (NYSE: S.K.X.) announced the release of its most recent quarterly earnings report to the public. The quarterly earnings of the textile company came in significantly lower than the average prediction of $0.74 per share, which was a difference of $0.19 per share. The earnings came in at $0.55 per share, significantly lower than the average prediction. The revenue the company brought in for the quarter was significantly higher than the analysts’ prediction of 1.84 billion dollars, coming in at 1.88 billion dollars instead of 1.84 billion dollars. Skechers U.S.A. had a return on equity of 10.03 percent, and their net margin was 9.70 percent. Both of these figures are percentages of the company’s overall profitability. Skechers U.S.A., Inc. is expected to generate earnings of $2.26 per share this year, according to the forecasts of analysts who work on the sell side.
In addition, on January 3rd, David Weinberg, the company’s Chief Executive Officer, sold 8,403 shares of company stock. A total of 355,362.87 dollars’ worth of the company’s stock was sold at an average price of $42.29 per share, leading to transactions totaling 355,362.87 dollars. The chief operating officer currently owns 124,419 shares of the company, which have a combined market value of $5,261,679.51 and are valued at that amount. Information regarding the sale submitted to the Securities and Exchange Commission can currently be accessed online through the S.E.C.’s website. Katherine J. Blair, a director of the company, sold 1,500 shares of the company’s stock on Tuesday, November 1st. This was yet another new turn of events. The total price of the shares sold on the open market came to $35.16 per share, bringing the total to $52,740.00. The director is now the proud owner of 10,500 shares of company stock, which have a combined value of $369,180 as a direct result of the transaction that took place earlier. Information regarding the sale submitted to the Securities and Exchange Commission can currently be accessed online through the S.E.C.’s website. Chief Operating Officer David Weinberg sold a further 8,403 shares of the company’s stock on January 3rd. The cost of purchasing all the shares came to a total of $355,362.87, which works out to a price of $42.29 per share on average. After the deal’s completion, the chief operating officer bought a total of 124,419 shares in the company, which are worth $5,261,679.51 in today’s market. The disclosure about the purchase can be found in this particular location. Corporate insiders sold 20,967 company shares during the most recent quarter for $876,358. This resulted in a 24.44% ownership interest in the company after the transaction.
Several research analysts have provided recent commentary on the stock, who have been in communication with one another and have shared their perspectives. On Friday, December 2nd, Monness Crespi & Hardt disseminated the findings of a research study that focused on Skechers U.S.A. shares. Following the recommendation in that report, the price target for the shares was increased to $50.00. In a research note released on October 26th, Morgan Stanley downgraded their “overweight” rating on Skechers U.S.A. shares and decreased their price target for the stock from $59.00 to $54.00. Both of these moves were made about the company’s stock. Raymond James increased their price target on Skechers U.S.A. shares from $40.00 to $48.00 in a research report published on Thursday, December 1st. Argus upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a price objective of $50.00 for the stock in a research report made available to the public on Friday, January 6th. The research report was made available to the public. StockNews.com announced that it would begin providing coverage on shares of Skechers U.S.A. in a research report made available for public consumption on Wednesday, October 12th. They advised their clients to “hold” the stock moving forward. The stock has received a recommendation to buy from nine equity research professionals. In contrast, two of the same analysts have recommended that investors maintain their current holdings of the stock. According to Bloomberg, the typical investment recommendation for Skechers U.S.A. is a “Moderate Buy,” and the average price target that investors have set for the company is $49.92.
Skechers U.S.A., Inc. is a market leader in the design, development, marketing, and distribution of footwear on a global scale. The company was founded in 2002 and is headquartered in the United States of America. In addition to that, they produce athletic footwear for both male and female customers. This corporation can be broken down into its three primary business facets, which are referred to as “direct-to-consumer,” “domestic wholesale,” and “international wholesale.” Under the brand names Skechers U.S.A., Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS, the company sells shoes for both men and women in the subcategories of casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion. The shoe categories include casual, casual, sport athletic, trail, sandals, and boots. These brands are representative of a wide range of shoe categories. Under the brand names Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, and Z, the company markets and sells a variety of shoes, including sneakers, casuals, and other dress shoes.
