Shell Asset Management Co. bought a new position in shares of Skechers USA Inc. (NYSE:SKX) during the second quarter, Holdings Channel reports. The fund bought 21,629 shares of the company’s stock, valued at approximately $643,000.
Several other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Skechers USA during the fourth quarter worth approximately $31,971,000. Aperio Group LLC boosted its stake in shares of Skechers USA by 39.1% in the first quarter. Aperio Group LLC now owns 29,162 shares of the company’s stock worth $888,000 after buying an additional 8,190 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Skechers USA by 109.2% in the first quarter. Prudential Financial Inc. now owns 261,462 shares of the company’s stock worth $7,961,000 after buying an additional 136,470 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Skechers USA by 29.9% in the first quarter. BlackRock Inc. now owns 60,051 shares of the company’s stock worth $1,829,000 after buying an additional 13,840 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake 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. 65.70% of the stock is owned by institutional investors and hedge funds.
Shares of Skechers USA Inc. (NYSE:SKX) traded up 0.13% during trading on Friday, hitting $22.90. 1,721,688 shares of the company traded hands. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 13.23 and a beta of 0.15. Skechers USA Inc. has a one year low of $20.90 and a one year high of $49.28. The firm has a 50 day moving average price of $23.50 and a 200-day moving average price of $27.80.
Skechers USA (NYSE:SKX) last released its earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The company had revenue of $877.80 million for the quarter, compared to analyst estimates of $892.06 million. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. During the same period in the previous year, the business posted $0.52 EPS. Analysts predict that Skechers USA Inc. will post $1.80 EPS for the current year.
SKX has been the subject of a number of research reports. Zacks Investment Research cut shares of Skechers USA from a “hold” rating to a “sell” rating in a report on Monday, June 27th. B. Riley reiterated a “buy” rating and set a $42.00 price target on shares of Skechers USA in a research note on Tuesday, July 19th. Vetr upgraded shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 price target on the stock in a research note on Tuesday, July 19th. Monness Crespi & Hardt lowered shares of 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. Finally, Argus lowered shares of Skechers USA from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.34.
In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $24.12, for a total transaction of $33,502.68. Following the transaction, the general counsel now owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 21.73% of the company’s stock.
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.
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