GSA Capital Partners LLP cut its stake in shares of Skechers USA Inc. (NYSE:SKX) by 81.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,306 shares of the company’s stock after selling 39,658 shares during the period. GSA Capital Partners LLP’s holdings in Skechers USA were worth $277,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of SKX. Norges Bank acquired a new stake in Skechers USA during the fourth quarter valued at approximately $31,971,000. Aperio Group LLC increased its stake in Skechers USA by 39.1% in the first quarter. Aperio Group LLC now owns 29,162 shares of the company’s stock valued at $888,000 after buying an additional 8,190 shares during the last quarter. IFP Advisors Inc increased its stake in Skechers USA by 48.4% in the first quarter. IFP Advisors Inc now owns 9,672 shares of the company’s stock valued at $295,000 after buying an additional 3,153 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in Skechers USA by 209.0% in the first quarter. Icon Advisers Inc. Co. now owns 231,100 shares of the company’s stock valued at $7,037,000 after buying an additional 156,300 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Skechers USA by 109.2% in the first quarter. Prudential Financial Inc. now owns 261,462 shares of the company’s stock valued at $7,961,000 after buying an additional 136,470 shares during the last quarter. 65.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Skechers USA Inc. (NYSE:SKX) traded up 1.62% during mid-day trading on Wednesday, hitting $22.52. 1,852,148 shares of the company were exchanged. The company has a market capitalization of $3.56 billion, a P/E ratio of 13.01 and a beta of 0.32. Skechers USA Inc. has a 52 week low of $20.90 and a 52 week high of $49.28. The company has a 50 day moving average of $23.91 and a 200 day moving average of $28.29.
Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 previous year, the business earned $0.52 earnings per share. Equities analysts anticipate that Skechers USA Inc. will post $1.80 earnings per share for the current year.
SKX has been the subject of several recent research reports. Morgan Stanley reissued a “buy” rating on shares of Skechers USA in a research report on Monday, June 6th. Vetr raised shares of Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 target price for the company in a research report on Tuesday, June 7th. Zacks Investment Research downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. B. Riley reissued a “buy” rating and set a $42.00 target price on shares of Skechers USA in a research report on Tuesday, July 19th. Finally, Monness Crespi & Hardt downgraded shares of Skechers USA from a “buy” rating to a “neutral” rating in a research report on Friday, July 22nd. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Skechers USA presently has a consensus rating of “Buy” and an average price target of $30.37.
In other Skechers USA news, Director Jeffrey Greenberg sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the general counsel now owns 90,445 shares of the company’s stock, valued at $2,181,533.40. The disclosure for this sale can be found here. 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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