Symmetry Peak Management LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,000 shares of the textile maker’s stock, valued at approximately $247,000.
A number of other hedge funds also recently modified their holdings of the company. US Bancorp DE raised its stake in shares of 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 period. Neuburgh Advisers LLC raised its stake in shares of 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 period. NINE MASTS CAPITAL Ltd bought a new stake in shares of Skechers U.S.A. during the first quarter valued at approximately $137,000. Tyers Asset Management LLC bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $145,000. Finally, Flinton Capital Management LLC bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $176,000. Institutional investors and hedge funds own 65.59% of the company’s stock.
Shares of Skechers U.S.A., Inc. (SKX) traded down 0.07% during trading on Monday, reaching $27.44. 2,568,557 shares of the company were exchanged. The company’s 50-day moving average is $25.28 and its 200 day moving average is $25.62. Skechers U.S.A., Inc. has a 1-year low of $18.81 and a 1-year high of $32.71. The firm has a market capitalization of $4.34 billion, a PE ratio of 17.80 and a beta of 0.31.
Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, April 20th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.06 billion. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts expect that Skechers U.S.A., Inc. will post $1.78 EPS for the current fiscal year.
Several research firms have recently issued reports on SKX. Vetr upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 target price for the company in a report on Thursday, April 27th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $25.00 target price on shares of Skechers U.S.A. in a report on Monday, April 24th. Cowen and Company reiterated a “buy” rating and set a $35.00 target price on shares of Skechers U.S.A. in a report on Friday, April 21st. Zacks Investment Research lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Finally, Standpoint Research lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Thursday, March 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Skechers U.S.A. presently has an average rating of “Hold” and a consensus price target of $29.46.
In other news, Director Richard Rappaport sold 1,500 shares of Skechers U.S.A. stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $27.90, for a total value of $41,850.00. Following the sale, the director now owns 21,500 shares in the company, valued at $599,850. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David Weinberg sold 23,502 shares of Skechers U.S.A. stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $25.08, for a total transaction of $589,430.16. Following the completion of the sale, the chief operating officer now owns 193,502 shares in the company, valued at approximately $4,853,030.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,752 shares of company stock worth $653,698. 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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