Investment Centers of America Inc. purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,286 shares of the textile maker’s stock, valued at approximately $274,000.

Other large investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Skechers U.S.A. by 94.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 58,963 shares of the textile maker’s stock worth $1,739,000 after buying an additional 28,646 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in shares of Skechers U.S.A. by 20.5% in the 2nd quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock worth $18,974,000 after buying an additional 109,441 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Skechers U.S.A. by 3,136.5% in the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock worth $307,170,000 after buying an additional 10,844,421 shares during the last quarter. Aristotle Fund L.P. boosted its holdings in shares of Skechers U.S.A. by 8.2% in the 2nd quarter. Aristotle Fund L.P. now owns 519,700 shares of the textile maker’s stock worth $15,331,000 after buying an additional 39,200 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Skechers U.S.A. by 0.3% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 23,053 shares of the textile maker’s stock worth $633,000 after buying an additional 75 shares during the last quarter. 70.52% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Investment Centers of America Inc. Invests $274,000 in Skechers U.S.A., Inc. (SKX)” was posted by Daily Political and is owned by of Daily Political. If you are viewing this report on another publication, it was stolen and republished in violation of United States & international copyright and trademark laws. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/09/20/investment-centers-of-america-inc-invests-274000-in-skechers-u-s-a-inc-skx.html.

In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $567,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The disclosure for this sale can be found here. Company insiders own 38.20% of the company’s stock.

Shares of Skechers U.S.A., Inc. (NYSE SKX) opened at 25.76 on Wednesday. The company has a 50-day moving average price of $27.08 and a 200-day moving average price of $26.77. The company has a market capitalization of $4.08 billion, a PE ratio of 17.86 and a beta of 0.18. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $30.00.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.06). The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. Analysts predict that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current year.

A number of brokerages recently weighed in on SKX. UBS AG raised shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating in a report on Monday, June 5th. B. Riley reissued a “buy” rating and issued a $37.00 price target on shares of Skechers U.S.A. in a report on Friday, July 21st. Cowen and Company set a $35.00 price target on shares of Skechers U.S.A. and gave the stock a “buy” rating in a report on Monday, August 14th. BidaskClub raised shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, Morgan Stanley boosted their price target on shares of Skechers U.S.A. from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.10.

Skechers U.S.A. 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 U.S.A., Inc. (NYSE:SKX).

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

Receive News & Ratings for Skechers U.S.A. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.