Strs Ohio purchased a new position in Skechers USA, Inc. (NYSE:SKX – Get Rating) in the third quarter, according to the company’s latest Form 13F filed with the Securities and Exchange Commission (SEC). The company purchased 32,036 shares of textile manufacturer stock worth approximately $1,016,000.
Other institutional investors have also recently changed their holdings in the company. The Alaska Department of Revenue raised his position in Skechers USA stock by 2.0% in the second quarter. The Alaska Department of Revenue says he owns 19,366 shares of the textile maker worth $689,000 after buying an additional 385 shares last quarter. Bfsg LLC increased his stake in Skechers USA by 5.8% in the second quarter. Bfsg LLC now owns 7,063 shares of the textile manufacturer worth $251,000 after he purchased an additional 385 shares during the last quarter. Thompson Investment Management Inc. increased its stake in Skechers USA by 0.5% in the second quarter. Thompson Investment Management Inc. now owns 91,684 shares of the textile manufacturer worth $3,262,000 after purchasing an additional 479 shares during the previous quarter. Allworth Financial LP increased its stake in Skechers USA by 162.5% in the third quarter. Allworth Financial LP now owns 790 shares of the textile manufacturer worth $25,000 after purchasing an additional 489 shares during the previous quarter. Finally, Summit Trail Advisors LLC increased its stake in Skechers USA by 7.8% in the second quarter. Summit Trail Advisors LLC now owns 7,583 shares of the textile manufacturer worth $270,000 after purchasing an additional 548 shares last quarter. 93.29% of the shares are currently owned by hedge funds and other institutional investors.
Skechers USA trading volume 0.8%
NYSE:SKX opened at $46.56 on Friday. The stock has a 50-day simple moving average of $41.57 and a 200-day simple moving average of $38.33. The stock has a market cap of $7.22 billion, a P/E of 10.44 and a beta of 1.29. Skechers USA, Inc. has a one-year low of $31.28 and a one-year high of $49.89. The company has a debt to equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 2.27.
Skechers USA (NYSE:SKX – Get Rating) last released its quarterly earnings data on Tuesday, October 25. The textile maker reported his earnings per share (EPS) for the quarter was $0.55, well below consensus expectations of $0.74 ($0.19). The business made $1.88 billion in revenue for the quarter, compared to analyst estimates of $1.84 billion. Skechers USA had a return on equity of 10.03% and a net profit margin of 9.70%. Analysts expect Skechers USA, Inc., as a group, to post his earnings per share of 2.26 for the current financial year.
Wall Street Analyst Predicts Growth
Many research firms are considering SKX. Raymond James raised his price target for Skechers USA from his $40.00 to his $48.00 in a research note on Thursday, Dec. 1. StockNews.com featured his Skechers USA in its investigative report on Wednesday, October 12th. They issued a “Hold” rating on the stock. Piper Sandler undertook her Skechers USA coverage for an investigative report on Wednesday, December 28th. They issued a “neutral” rating and a price target of $42.00. Monness Crespi & Hardt raised the price target for Skechers USA to $50.00 in a research report on Friday, December 2nd. Finally, Morgan Stanley lowered his Skechers USA price target from $59.00 to $54.00, giving the stock an “overweight” rating in its research report on Wednesday, Oct. 26. Two research analysts rated the stock with a hold rating, and nine issued buy ratings on the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “moderate buy” and a consensus price target of $49.92.
In other news from Skechers USA, President Michael Greenberg sold 10,503 shares in a transaction that took place on Tuesday, January 3rd. The shares sold for an average of $42.29, and the total trading value he had was $444,171.87. Following the closing of the sale, the President now directly owns 427,080 shares of the Company’s stock, valued at approximately $18,061,213.20. The transaction was disclosed in legal filings with the U.S. Securities and Exchange Commission which can be accessed via this hyperlink. In related news, President Michael Greenberg sold 10,503 shares of the company in a transaction that took place on Tuesday, January 3rd. The shares sold at an average price of $42.29, giving him a total of $444,171.87. Following the closing of the transaction, the President now directly owns 427,080 shares of the Company’s stock valued at approximately $18,061,213.20. The deal is disclosed in documents filed with the Securities and Exchange Commission and can be accessed on his website at the SEC. In addition, director Katherine J. Blair sold 1,500 shares of the company in a transaction that took place on Tuesday, November 1. The shares sold for an average of $35.16, giving him a total of $52,740.00. Following the closing of the transaction, the directors now own directly 10,500 shares of the Company’s stock valued at $369,180. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 20,967 shares of his company stock worth $876,358. 24.44% of the shares are owned by internal persons.
About Skechers USA
Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children. Performance footwear for men and women worldwide. The company operates in his three segments: domestic wholesale, international wholesale, and direct-to-consumer. Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS brands offer casual, casual athletic, sport athletic, trail, sandals, boots and retro fashion footwear for men and women. I’m here. Sneakers, casuals, boots and sandals for boys and girls from Skechers Mega-Craft, S-Lights, SKECH-AIR, Foomys, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street brands. Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf branded technical footwear.
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to firstname.lastname@example.org.
Listen to this before you consider Skechers USA.
MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat identified 5 stocks top analysts are quietly whispering to clients to buy now before the broader market catches on…and Skechers USA wasn’t on the list .
Skechers USA currently has a ‘moderate buy’ rating among analysts, but the top rated analysts believe these five stocks are better buys.
See 5 stocks here