Skechers USA Inc. (SKX) Stake Reduced by Advisors Asset Management Inc.
Advisors Asset Management Inc. cut its stake in Skechers USA Inc. (NYSE:SKX) by 49.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,500 shares of the company’s stock after selling 3,364 shares during the period. Advisors Asset Management Inc.’s holdings in Skechers USA were worth $104,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Capital Fund Management S.A. increased its stake in Skechers USA by 22.3% in the second quarter. Capital Fund Management S.A. now owns 105,151 shares of the company’s stock worth $3,125,000 after buying an additional 19,191 shares during the period. Prudential PLC increased its stake in Skechers USA by 2.3% in the first quarter. Prudential PLC now owns 252,600 shares of the company’s stock worth $7,692,000 after buying an additional 5,700 shares during the period. Menta Capital LLC increased its stake in Skechers USA by 291.2% in the first quarter. Menta Capital LLC now owns 34,392 shares of the company’s stock worth $1,047,000 after buying an additional 25,600 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Skechers USA by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,832,942 shares of the company’s stock worth $116,713,000 after buying an additional 25,636 shares during the period. Finally, BlackRock Inc. increased its stake in Skechers USA by 29.9% in the first quarter. BlackRock Inc. now owns 60,051 shares of the company’s stock worth $1,829,000 after buying an additional 13,840 shares during the period. 65.70% of the stock is owned by institutional investors and hedge funds.
Skechers USA Inc. (NYSE:SKX) traded up 0.13% during trading on Friday, reaching $22.90. The company’s stock had a trading volume of 1,721,688 shares. Skechers USA Inc. has a 52 week low of $20.90 and a 52 week high of $49.28. The company has a 50 day moving average price of $23.50 and a 200-day moving average price of $27.80. The company has a market capitalization of $3.62 billion, a PE ratio of 13.23 and a beta of 0.15.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. The company had revenue of $877.80 million for the quarter, compared to analyst estimates of $892.06 million. During the same period in the previous year, the business posted $0.52 earnings per share. Equities research analysts anticipate that Skechers USA Inc. will post $1.80 earnings per share for the current year.
A number of equities research analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $42.00 target price on shares of Skechers USA in a report on Tuesday, July 19th. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a report on Monday, July 18th. 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. Vetr raised Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 target price for the company in a report on Tuesday, July 19th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $38.00 target price on shares of Skechers USA in a report on Tuesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $30.34.
In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $24.12, for a total transaction of $33,502.68. Following the completion of the sale, the general counsel now directly owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.73% of the company’s stock.
About Skechers USA
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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