Alps Advisors Inc. Sells 904 Shares of Skechers USA Inc. (SKX)
Alps Advisors Inc. lowered its position in shares of Skechers USA Inc. (NYSE:SKX) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,279 shares of the company’s stock after selling 904 shares during the period. Alps Advisors Inc.’s holdings in Skechers USA were worth $365,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Skechers USA by 40.7% in the second quarter. Creative Planning now owns 8,074 shares of the company’s stock worth $240,000 after buying an additional 2,335 shares in the last quarter. LS Investment Advisors LLC raised its stake in Skechers USA by 68.8% in the second quarter. LS Investment Advisors LLC now owns 8,193 shares of the company’s stock worth $243,000 after buying an additional 3,340 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Skechers USA during the first quarter worth about $253,000. Independent Portfolio Consultants Inc. raised its stake in Skechers USA by 20.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 8,390 shares of the company’s stock worth $249,000 after buying an additional 1,440 shares in the last quarter. Finally, Regent Investment Management LLC raised its stake in Skechers USA by 29.4% in the second quarter. Regent Investment Management LLC now owns 8,800 shares of the company’s stock worth $262,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 65.70% of the company’s stock.
Skechers USA Inc. (NYSE:SKX) traded up 2.17% during trading on Wednesday, reaching $23.08. 1,725,316 shares of the company traded hands. The company’s 50-day moving average is $23.38 and its 200 day moving average is $27.67. Skechers USA Inc. has a 12 month low of $20.90 and a 12 month high of $49.28. The company has a market cap of $3.64 billion, a PE ratio of 13.33 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The business earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. During the same quarter last year, the business earned $0.52 earnings per share. On average, analysts anticipate that Skechers USA Inc. will post $1.80 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. B. Riley restated a “buy” rating and set a $32.00 price target on shares of Skechers USA in a report on Monday, July 25th. Zacks Investment Research lowered shares of Skechers USA from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Vetr upgraded shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 price target on the stock in a report on Tuesday, July 19th. Cowen and Company set a $24.00 price objective on shares of Skechers USA and gave the company a “hold” rating in a research note on Thursday, September 22nd. Finally, Susquehanna upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price objective on the stock in a research note on Friday, September 30th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Skechers USA currently has a consensus rating of “Buy” and a consensus price target of $30.34.
In other news, General Counsel Phillip Paccione sold 1,389 shares of Skechers USA stock in a transaction that occurred on Thursday, July 28th. The shares were 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 $2,181,533.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.73% of the stock is currently owned by insiders.
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.
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