Skechers USA Inc. (SKX) Position Raised by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd increased its position in shares of Skechers USA Inc. (NYSE:SKX) by 88.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,802 shares of the company’s stock after buying an additional 7,414 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Skechers USA were worth $470,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Skechers USA by 1.7% in the first quarter. State Street Corp now owns 3,551,897 shares of the company’s stock valued at $108,158,000 after buying an additional 59,148 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Skechers USA by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 31,113 shares of the company’s stock valued at $925,000 after buying an additional 244 shares during the last quarter. BlackRock Group LTD increased its stake in Skechers USA by 24.7% in the first quarter. BlackRock Group LTD now owns 128,575 shares of the company’s stock valued at $3,916,000 after buying an additional 25,449 shares during the last quarter. Bogle Investment Management L P DE bought a new stake in Skechers USA during the first quarter valued at about $1,186,000. Finally, Renaissance Technologies LLC increased its stake in Skechers USA by 1.5% in the first quarter. Renaissance Technologies LLC now owns 951,900 shares of the company’s stock valued at $28,985,000 after buying an additional 14,000 shares during the last quarter. Institutional investors and hedge funds own 65.70% of the company’s stock.
Shares of Skechers USA Inc. (NYSE:SKX) opened at 23.20 on Tuesday. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.40 and a beta of 0.32. The company has a 50-day moving average price of $24.14 and a 200 day moving average price of $28.73. Skechers USA Inc. has a 12-month low of $22.44 and a 12-month high of $49.28.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. The business had revenue of $877.80 million for the quarter, compared to analyst estimates of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts expect that Skechers USA Inc. will post $1.83 earnings per share for the current fiscal year.
Several research firms have issued reports on SKX. Citigroup Inc. restated a “buy” rating and set a $38.00 price objective on shares of Skechers USA in a report on Tuesday, August 23rd. Susquehanna began coverage on Skechers USA in a report on Friday, August 12th. They set a “neutral” rating and a $27.00 price objective on the stock. Argus downgraded Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, August 1st. B. Riley restated a “buy” rating and set a $32.00 price objective on shares of Skechers USA in a report on Monday, July 25th. Finally, Monness Crespi & Hardt downgraded Skechers USA from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Skechers USA presently has an average rating of “Buy” and an average target price of $31.39.
In other news, Director Jeffrey Greenberg sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the sale, the general counsel now directly owns 90,445 shares in the company, valued at approximately $2,181,533.40. The disclosure for this sale can be found here. Insiders own 21.73% of the company’s stock.
Skechers USA Company Profile
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.
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers USA Inc. (NYSE:SKX).
Receive News & Ratings for Skechers USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.