Skechers USA Inc (SKX) Position Trimmed by SG Americas Securities LLC
SG Americas Securities LLC decreased its holdings in shares of Skechers USA Inc (NYSE:SKX) by 19.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,616 shares of the textile maker’s stock after selling 5,566 shares during the quarter. SG Americas Securities LLC’s holdings in Skechers USA were worth $709,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Virginia Retirement Systems ET AL bought a new position in Skechers USA in the first quarter valued at approximately $319,000. Swiss National Bank increased its stake in Skechers USA by 2.3% in the first quarter. Swiss National Bank now owns 233,200 shares of the textile maker’s stock valued at $9,069,000 after acquiring an additional 5,200 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in Skechers USA by 49.8% in the first quarter. Quantitative Systematic Strategies LLC now owns 10,963 shares of the textile maker’s stock valued at $426,000 after acquiring an additional 3,643 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Skechers USA by 7.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 867,316 shares of the textile maker’s stock valued at $33,730,000 after acquiring an additional 63,361 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Skechers USA by 8.6% in the first quarter. Thrivent Financial for Lutherans now owns 31,716 shares of the textile maker’s stock valued at $1,233,000 after acquiring an additional 2,504 shares during the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.
A number of brokerages recently issued reports on SKX. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Standpoint Research raised shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. B. Riley set a $50.00 price objective on shares of Skechers USA and gave the company a “buy” rating in a research note on Tuesday, July 17th. Wedbush decreased their price objective on shares of Skechers USA from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, June 8th. Finally, Buckingham Research lifted their price objective on shares of Skechers USA from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Skechers USA presently has an average rating of “Hold” and a consensus target price of $37.79.
Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, July 19th. The textile maker reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Skechers USA had a return on equity of 14.17% and a net margin of 4.24%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. sell-side analysts predict that Skechers USA Inc will post 1.73 earnings per share for the current year.
Skechers USA Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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