HL Financial Services LLC decreased its position in Skechers U.S.A., Inc. (NYSE:SKX) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,011 shares of the textile maker’s stock after selling 6,304 shares during the period. HL Financial Services LLC’s holdings in Skechers U.S.A. were worth $1,932,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of SKX. Swiss National Bank lifted its stake in shares of Skechers U.S.A. by 1.4% in the third quarter. Swiss National Bank now owns 223,700 shares of the textile maker’s stock valued at $5,613,000 after purchasing an additional 3,100 shares during the period. Boston Partners lifted its stake in shares of Skechers U.S.A. by 2.6% in the third quarter. Boston Partners now owns 1,604,706 shares of the textile maker’s stock valued at $40,262,000 after purchasing an additional 41,403 shares during the period. American Century Companies Inc. lifted its stake in shares of Skechers U.S.A. by 444.4% in the third quarter. American Century Companies Inc. now owns 57,669 shares of the textile maker’s stock valued at $1,447,000 after purchasing an additional 47,075 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Skechers U.S.A. in the third quarter valued at about $6,671,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Skechers U.S.A. in the third quarter valued at about $2,762,000. 70.66% of the stock is currently owned by institutional investors and hedge funds.
Skechers U.S.A., Inc. (SKX) traded up $0.82 during trading hours on Friday, hitting $32.00. 2,392,400 shares of the stock were exchanged, compared to its average volume of 5,451,014. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5,069.76, a price-to-earnings ratio of 19.88, a PEG ratio of 1.36 and a beta of 0.11. Skechers U.S.A., Inc. has a twelve month low of $21.33 and a twelve month high of $34.87.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. equities analysts expect that Skechers U.S.A., Inc. will post 1.69 earnings per share for the current year.
In other news, President Michael Greenberg sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total value of $4,779,000.00. Following the completion of the transaction, the president now owns 251,679 shares of the company’s stock, valued at $8,018,492.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey Greenberg sold 180,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $31.72, for a total transaction of $5,709,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 386,504 shares of company stock valued at $12,319,249. Company insiders own 21.73% of the company’s stock.
Several analysts recently commented on SKX shares. Vetr cut shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.12 price objective for the company. in a research note on Monday, July 17th. OTR Global upgraded shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research note on Tuesday, July 18th. B. Riley reiterated a “buy” rating and issued a $37.00 price objective on shares of Skechers U.S.A. in a research note on Friday, July 21st. Citigroup Inc. raised their price objective on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Buckingham Research set a $34.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.74.
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.
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