Credit Suisse AG reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 24.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,555 shares of the textile maker’s stock after selling 124,340 shares during the period. Credit Suisse AG owned 0.25% of Skechers U.S.A. worth $10,719,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,897 shares during the last quarter. Neuburgh Advisers LLC increased its stake in Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock valued at $132,000 after buying an additional 176 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in Skechers U.S.A. during the first quarter valued at approximately $137,000. Tyers Asset Management LLC boosted its position in shares of Skechers U.S.A. by 3.8% in the first quarter. Tyers Asset Management LLC now owns 6,104 shares of the textile maker’s stock valued at $167,000 after buying an additional 224 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Skechers U.S.A. by 2.0% in the first quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock valued at $203,000 after buying an additional 147 shares during the last quarter. Institutional investors own 65.11% of the company’s stock.
Skechers U.S.A., Inc. (NYSE:SKX) traded up 3.20% during mid-day trading on Tuesday, reaching $28.69. The company’s stock had a trading volume of 2,050,875 shares. Skechers U.S.A., Inc. has a 12-month low of $18.81 and a 12-month high of $30.00. The company has a market cap of $4.46 billion, a PE ratio of 19.90 and a beta of 0.18. The firm’s 50 day moving average is $28.40 and its 200-day moving average is $26.37.
Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.06. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. Equities analysts anticipate that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current fiscal year.
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Several research analysts have issued reports on SKX shares. Cowen and Company reissued a “buy” rating and issued a $35.00 target price on shares of Skechers U.S.A. in a research report on Friday, April 21st. B. Riley raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Friday, April 21st. Vetr raised Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 target price on the stock in a research report on Wednesday, April 12th. Citigroup Inc. raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.52 to $30.00 in a research report on Thursday, June 1st. Finally, BidaskClub raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $31.10.
In other news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $567,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 38.20% of the company’s stock.
About Skechers U.S.A.
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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