GSA Capital Partners LLP Sells 3,296 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

GSA Capital Partners LLP lowered its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 14.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,319 shares of the textile maker’s stock after selling 3,296 shares during the quarter. GSA Capital Partners LLP’s holdings in Skechers U.S.A. were worth $1,360,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Skechers U.S.A. by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock valued at $779,491,000 after purchasing an additional 97,666 shares during the period. Dimensional Fund Advisors LP boosted its stake in Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after buying an additional 55,095 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after acquiring an additional 394,618 shares during the period. American Century Companies Inc. raised its stake in Skechers U.S.A. by 38.6% during the second quarter. American Century Companies Inc. now owns 330,769 shares of the textile maker’s stock worth $22,863,000 after acquiring an additional 92,093 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Skechers U.S.A. during the second quarter valued at $22,425,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wedbush upped their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America cut their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus increased their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Barclays raised their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $78.09.

Skechers U.S.A. Stock Up 0.5 %

NYSE SKX opened at $61.09 on Thursday. The stock has a market capitalization of $9.22 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. Skechers U.S.A., Inc. has a 52 week low of $50.16 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock has a fifty day moving average of $64.48 and a 200-day moving average of $66.54.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 earnings per share. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Skechers U.S.A. declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Skechers U.S.A.

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.