UBS Asset Management Americas Inc. boosted its position in shares of Skechers USA Inc. (NYSE:SKX) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 96,205 shares of the company’s stock after buying an additional 5,000 shares during the period. UBS Asset Management Americas Inc. owned about 0.06% of Skechers USA worth $2,860,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in SKX. Ameriprise Financial Inc. boosted its position in shares of Skechers USA by 7.8% in the second quarter. Ameriprise Financial Inc. now owns 1,696,064 shares of the company’s stock worth $50,406,000 after buying an additional 122,997 shares in the last quarter. Scout Investments Inc. purchased a new position in shares of Skechers USA during the second quarter worth $33,603,000. Janney Montgomery Scott LLC boosted its position in shares of Skechers USA by 113.4% in the second quarter. Janney Montgomery Scott LLC now owns 47,247 shares of the company’s stock worth $1,415,000 after buying an additional 25,104 shares in the last quarter. Boston Partners purchased a new position in shares of Skechers USA during the second quarter worth $2,013,000. Finally, Sheaff Brock Investment Advisors LLC boosted its position in shares of Skechers USA by 45.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 18,600 shares of the company’s stock worth $553,000 after buying an additional 5,800 shares in the last quarter. 65.70% of the stock is currently owned by institutional investors.
Shares of Skechers USA Inc. (NYSE:SKX) traded down 0.847% on Thursday, reaching $22.825. The company’s stock had a trading volume of 648,589 shares. The firm has a market capitalization of $3.60 billion, a PE ratio of 13.186 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 $23.60 and a 200 day moving average price of $27.91.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. The business earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same period in the previous year, the business earned $0.52 EPS. On average, analysts anticipate that Skechers USA Inc. will post $1.80 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the company. Standpoint Research assumed coverage on Skechers USA in a report on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Susquehanna raised Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price objective on the stock in a report on Friday, September 30th. Cowen and Company set a $24.00 price target on Skechers USA and gave the stock a “hold” rating in a research report on Thursday, September 22nd. Morgan Stanley lowered Skechers USA from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $41.00 to $25.00 in a research report on Wednesday, September 21st. Finally, Citigroup Inc. restated a “buy” rating and set a $38.00 price target on shares of Skechers USA in a research report on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $30.34.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.73% of the stock is owned by insiders.
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.
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