Retirement Systems of Alabama increased its position in Skechers USA Inc. (NYSE:SKX) by 0.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 507,341 shares of the company’s stock after buying an additional 2,942 shares during the period. Retirement Systems of Alabama’s holdings in Skechers USA were worth $15,078,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of 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 during the last quarter. BlackRock Group LTD boosted its position in shares of Skechers USA by 24.7% in the first quarter. BlackRock Group LTD now owns 128,575 shares of the company’s stock worth $3,916,000 after buying an additional 25,449 shares during the last quarter. Bogle Investment Management L P DE bought a new position in shares of Skechers USA during the first quarter worth approximately $1,186,000. Renaissance Technologies LLC boosted its position in shares of 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 during the last quarter. Finally, Menta Capital LLC boosted its position in shares of Skechers USA by 291.2% in the first quarter. Menta Capital LLC now owns 34,392 shares of the company’s stock worth $1,047,000 after buying an additional 25,600 shares during the last quarter. Institutional investors own 65.70% of the company’s stock.
Shares of Skechers USA Inc. (NYSE:SKX) traded up 4.52% during midday trading on Friday, reaching $22.90. The company’s stock had a trading volume of 3,755,624 shares. The company’s 50-day moving average price is $23.78 and its 200 day moving average price is $28.14. Skechers USA Inc. has a 12-month low of $20.90 and a 12-month high of $49.28. The company has a market capitalization of $3.62 billion, a P/E ratio of 13.23 and a beta of 0.32.
Skechers USA (NYSE:SKX) last announced its earnings results 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 business earned $877.80 million during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.52 earnings per share. On average, equities research analysts forecast that Skechers USA Inc. will post $1.80 earnings per share for the current year.
SKX has been the topic of a number of recent analyst reports. Morgan Stanley cut Skechers USA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $41.00 to $25.00 in a research report on Wednesday, September 21st. Susquehanna upgraded Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 target price on the stock in a research report on Friday. Citigroup Inc. reiterated a “buy” rating and issued a $38.00 target price on shares of Skechers USA in a research report on Tuesday, August 23rd. Vetr upgraded Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 target price on the stock in a research report on Tuesday, July 19th. Finally, Zacks Investment Research cut Skechers USA from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $30.37.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $24.12, for a total transaction of $33,502.68. Following the transaction, the general counsel now directly owns 90,445 shares in the company, valued at approximately $2,181,533.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.