Marshall Wace LLP cut its holdings in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,091,278 shares of the textile maker’s stock after selling 386,116 shares during the period. Marshall Wace LLP owned 2.64% of Skechers U.S.A. worth $129,776,000 as of its most recent SEC filing.
→ Bank Accounts: Frozen! (From Weiss Ratings)
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Malaga Cove Capital LLC boosted its holdings in Skechers U.S.A. by 1.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 35,979 shares of the textile maker’s stock worth $1,141,000 after buying an additional 350 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Skechers U.S.A. by 1.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 39,352 shares of the textile maker’s stock valued at $1,248,000 after purchasing an additional 423 shares during the period. Amalgamated Bank boosted its holdings in Skechers U.S.A. by 0.5% in the 3rd quarter. Amalgamated Bank now owns 97,346 shares of the textile maker’s stock valued at $3,088,000 after purchasing an additional 449 shares during the period. Allworth Financial LP boosted its holdings in Skechers U.S.A. by 162.5% in the 3rd quarter. Allworth Financial LP now owns 790 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 489 shares during the period. Finally, Inspire Investing LLC boosted its holdings in Skechers U.S.A. by 9.0% in the 3rd quarter. Inspire Investing LLC now owns 6,507 shares of the textile maker’s stock valued at $206,000 after purchasing an additional 536 shares during the period. 93.29% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, COO David Weinberg sold 8,403 shares of Skechers U.S.A. stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total transaction of $355,362.87. Following the sale, the chief operating officer now owns 124,419 shares in the company, valued at $5,261,679.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Phillip Paccione sold 11,874 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $45.16, for a total value of $536,229.84. Following the completion of the transaction, the general counsel now owns 20,000 shares of the company’s stock, valued at approximately $903,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 8,403 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $355,362.87. Following the completion of the transaction, the chief operating officer now directly owns 124,419 shares of the company’s stock, valued at approximately $5,261,679.51. The disclosure for this sale can be found here. Insiders sold 82,409 shares of company stock valued at $3,666,079 in the last ninety days. Insiders own 24.44% of the company’s stock.
Skechers U.S.A. Price Performance
Shares of NYSE SKX traded down $0.16 during trading on Friday, hitting $45.78. The company had a trading volume of 451,158 shares, compared to its average volume of 1,823,618. Skechers U.S.A., Inc. has a fifty-two week low of $31.28 and a fifty-two week high of $49.56. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 19.30 and a beta of 1.32. The company has a quick ratio of 1.13, a current ratio of 2.26 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $45.11 and a two-hundred day simple moving average of $40.28.
Skechers U.S.A. (NYSE:SKX – Get Rating) last posted its earnings results on Thursday, February 2nd. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10. Skechers U.S.A. had a return on equity of 9.94% and a net margin of 5.01%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, research analysts expect that Skechers U.S.A., Inc. will post 2.95 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on SKX shares. UBS Group raised their price target on Skechers U.S.A. from $63.00 to $69.00 in a research report on Friday, February 3rd. Argus upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, January 6th. Raymond James increased their target price on Skechers U.S.A. from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Cowen dropped their price objective on Skechers U.S.A. from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Finally, Cowen upgraded Skechers U.S.A. from a “market perform” rating to an “outperform” rating and raised their target price for the company from $48.00 to $65.00 in a research note on Monday, January 23rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.83.
Skechers U.S.A. Profile
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.
See Also
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Skechers U.S.A., you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Skechers U.S.A. wasn’t on the list.
While Skechers U.S.A. currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
