Symmetry Peak Management LLC Invests $247,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Symmetry Peak Management LLC purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,000 shares of the textile maker’s stock, valued at approximately $247,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC increased its stake in Skechers U.S.A. by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 23,053 shares of the textile maker’s stock valued at $633,000 after buying an additional 75 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its position in Skechers U.S.A. by 0.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 32,100 shares of the textile maker’s stock valued at $881,000 after buying an additional 100 shares during the period. Utah Retirement Systems boosted its position in Skechers U.S.A. by 0.4% in the first quarter. Utah Retirement Systems now owns 23,700 shares of the textile maker’s stock valued at $651,000 after buying an additional 100 shares during the period. IFP Advisors Inc boosted its position in 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 period. Finally, Capstone Asset Management Co. boosted its position in Skechers U.S.A. by 0.9% in the first quarter. Capstone Asset Management Co. now owns 18,446 shares of the textile maker’s stock valued at $506,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 64.89% of the company’s stock.

Skechers U.S.A., Inc. (SKX) traded up 2.28% during midday trading on Friday, hitting $29.22. 1,925,499 shares of the stock traded hands. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 18.95 and a beta of 0.19. The firm’s 50-day moving average is $26.15 and its 200-day moving average is $25.78. Skechers U.S.A., Inc. has a 52-week low of $18.81 and a 52-week high of $32.71.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 20th. The textile maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Skechers U.S.A. had a net margin of 6.56% and a return on equity of 14.20%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Analysts predict that Skechers U.S.A., Inc. will post $1.78 EPS for the current year.

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A number of research analysts have weighed in on SKX shares. B. Riley reiterated a “buy” rating and issued a $32.00 target price on shares of Skechers U.S.A. in a research note on Wednesday, April 26th. BidaskClub upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Vetr upgraded shares of Skechers U.S.A. from a “buy” rating to a “strong-buy” rating and set a $26.28 price target on the stock in a research note on Wednesday, May 17th. Susquehanna Bancshares Inc raised shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating and upped their target price for the stock from $25.00 to $32.00 in a report on Monday, June 5th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $35.00 target price on shares of Skechers U.S.A. in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $29.63.

In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $567,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Weinberg sold 23,502 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total value of $589,430.16. Following the sale, the chief operating officer now directly owns 193,502 shares of the company’s stock, valued at $4,853,030.16. The disclosure for this sale can be found here. Company insiders own 21.73% 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.

Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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