Rathbone Brothers plc lessened its holdings in shares of Skechers USA Inc (NYSE:SKX) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,255 shares of the textile maker’s stock after selling 1,335 shares during the quarter. Rathbone Brothers plc’s holdings in Skechers USA were worth $681,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in shares of Skechers USA during the first quarter valued at approximately $33,000. Parkside Financial Bank & Trust raised its holdings in shares of Skechers USA by 42.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,423 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 423 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Skechers USA during the first quarter valued at approximately $49,000. Meeder Asset Management Inc. raised its holdings in shares of Skechers USA by 1,569.0% during the first quarter. Meeder Asset Management Inc. now owns 3,338 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 3,138 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Skechers USA during the first quarter valued at approximately $134,000. Institutional investors own 75.77% of the company’s stock.
In other news, EVP Mark A. Nason sold 13,191 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.00, for a total transaction of $422,112.00. Following the completion of the transaction, the executive vice president now directly owns 86,943 shares in the company, valued at $2,782,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Greenberg sold 220,336 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $34.07, for a total value of $7,506,847.52. Following the transaction, the president now owns 552,679 shares of the company’s stock, valued at $18,829,773.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 614,567 shares of company stock valued at $20,540,387. 28.08% of the stock is owned by corporate insiders.
SKX opened at $28.11 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.91 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 2.02 and a beta of 0.57. Skechers USA Inc has a 12-month low of $21.45 and a 12-month high of $35.66.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 18th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.30 billion. Skechers USA had a return on equity of 13.56% and a net margin of 6.26%. Skechers USA’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. On average, equities analysts predict that Skechers USA Inc will post 2.02 earnings per share for the current year.
SKX has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating on shares of Skechers USA in a report on Friday, April 26th. Cfra downgraded Skechers USA from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Morgan Stanley set a $29.00 target price on Skechers USA and gave the company a “hold” rating in a report on Friday, February 8th. Cowen restated a “hold” rating and set a $34.00 target price on shares of Skechers USA in a report on Tuesday, February 12th. Finally, Zacks Investment Research downgraded Skechers USA from a “hold” rating to a “sell” rating in a report on Friday, February 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $32.33.
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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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