Commonwealth Equity Services LLC increased its stake in shares of Skechers USA Inc (NYSE:SKX) by 162.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,417 shares of the textile maker’s stock after acquiring an additional 28,745 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Skechers USA were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. NuWave Investment Management LLC grew its position in shares of Skechers USA by 1,253.8% in the 1st quarter. NuWave Investment Management LLC now owns 2,667 shares of the textile maker’s stock worth $103,000 after buying an additional 2,470 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Skechers USA in the 1st quarter worth approximately $205,000. Lido Advisors LLC bought a new stake in shares of Skechers USA in the 1st quarter worth approximately $229,000. Creative Planning bought a new stake in shares of Skechers USA in the 2nd quarter worth approximately $211,000. Finally, Intact Investment Management Inc. grew its position in shares of Skechers USA by 34.5% in the 2nd quarter. Intact Investment Management Inc. now owns 7,400 shares of the textile maker’s stock worth $222,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.
NYSE SKX opened at $30.00 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.14 and a current ratio of 3.28. Skechers USA Inc has a twelve month low of $23.80 and a twelve month high of $43.08. The company has a market cap of $4.66 billion, a P/E ratio of 16.85, a PEG ratio of 1.69 and a beta of 0.22.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, July 19th. The textile maker reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.12). Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. research analysts predict that Skechers USA Inc will post 1.73 EPS for the current fiscal year.
SKX has been the topic of a number of recent analyst reports. Citigroup cut their price objective on Skechers USA from $44.00 to $35.00 and set a “$27.32” rating on the stock in a research report on Monday, July 23rd. Standpoint Research upgraded Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Buckingham Research cut their price objective on Skechers USA from $42.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Monness Crespi & Hardt cut their price objective on Skechers USA from $45.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, ValuEngine upgraded Skechers USA from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.79.
About Skechers USA
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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