Headlands Technologies LLC Boosts Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Headlands Technologies LLC grew its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 2,410.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,636 shares of the textile maker’s stock after purchasing an additional 2,531 shares during the period. Headlands Technologies LLC’s holdings in Skechers U.S.A. were worth $161,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in Skechers U.S.A. during the 1st quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $36,000. Game Plan Financial Advisors LLC purchased a new position in shares of Skechers U.S.A. during the first quarter worth about $43,000. Sunbelt Securities Inc. acquired a new position in Skechers U.S.A. in the 1st quarter valued at about $45,000. Finally, Tradition Wealth Management LLC purchased a new stake in Skechers U.S.A. during the 4th quarter valued at approximately $56,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now directly owns 35,000 shares in the company, valued at approximately $2,430,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America upgraded Skechers U.S.A. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $71.00 to $87.00 in a research note on Friday, June 7th. Stifel Nicolaus boosted their target price on Skechers U.S.A. from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $82.00 price target on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Evercore ISI decreased their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $76.00 target price on shares of Skechers U.S.A. in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Skechers U.S.A. Trading Up 0.9 %

Shares of NYSE SKX traded up $0.60 on Wednesday, reaching $67.83. 151,038 shares of the company traded hands, compared to its average volume of 1,702,356. The stock has a market capitalization of $10.35 billion, a PE ratio of 17.69, a P/E/G ratio of 0.94 and a beta of 1.25. Skechers U.S.A., Inc. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $69.77 and a 200 day moving average of $64.00.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.23. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 EPS. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.08 earnings per share for the current fiscal year.

Skechers U.S.A. Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.