Skullcandy Inc. (NASDAQ:SKUL) was upgraded by analysts at TheStreet from a “sell” rating to a “hold” rating in a report issued on Wednesday.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Skullcandy from a “strong sell” rating to a “hold” rating in a report on Thursday, May 5th. Roth Capital restated a “buy” rating on shares of Skullcandy in a report on Monday, June 27th. Wunderlich restated a “buy” rating and set a $7.00 price objective on shares of Skullcandy in a report on Wednesday, June 8th. Finally, DA Davidson cut Skullcandy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $4.50 to $5.00 in a report on Wednesday, June 8th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Skullcandy has a consensus rating of “Buy” and a consensus target price of $6.84.
Skullcandy (NASDAQ:SKUL) traded down 0.33% during midday trading on Wednesday, reaching $6.03. The company had a trading volume of 219,085 shares. The firm has a 50-day moving average of $5.57 and a 200-day moving average of $4.06. The stock has a market cap of $172.62 million and a P/E ratio of 37.92. Skullcandy has a 12 month low of $2.75 and a 12 month high of $8.27.
In other Skullcandy news, major shareholder Ptarmagin, Llc sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $3.33, for a total transaction of $124,875.00. Following the completion of the transaction, the insider now directly owns 3,789,886 shares in the company, valued at $12,620,320.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rick Alden sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $4.55, for a total transaction of $113,750.00. Following the transaction, the director now owns 731,324 shares of the company’s stock, valued at $3,327,524.20. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Skullcandy by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,475 shares of the company’s stock valued at $7,126,000 after buying an additional 14,155 shares in the last quarter. Ariel Investments LLC purchased a new position in shares of Skullcandy during the fourth quarter valued at approximately $1,202,000. Skylands Capital LLC increased its position in shares of Skullcandy by 153.6% in the first quarter. Skylands Capital LLC now owns 86,492 shares of the company’s stock valued at $308,000 after buying an additional 52,391 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Skullcandy by 48.3% in the first quarter. North Star Investment Management Corp. now owns 365,825 shares of the company’s stock valued at $1,302,000 after buying an additional 119,150 shares in the last quarter. Finally, Granite Investment Partners LLC increased its position in shares of Skullcandy by 98.8% in the first quarter. Granite Investment Partners LLC now owns 297,820 shares of the company’s stock valued at $1,060,000 after buying an additional 148,025 shares in the last quarter.
Skullcandy, Inc creates audio experiences through its Skullcandy and Astro Gaming brands. The Company operates in two segments: Domestic and International. The Domestic segment consists of Skullcandy and Astro Gaming product sales to customers in the United States. The International segment includes Skullcandy product sales to customers in Europe, Asia, Canada Mexico, and all other geographic areas outside the United States that are served by the Company’s International operations.
