Skechers U.S.A., Inc. (SKX) Holdings Lifted by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 21.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,814 shares of the textile maker’s stock after purchasing an additional 19,768 shares during the quarter. Legal & General Group Plc owned about 0.08% of Skechers U.S.A. worth $3,328,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SKX. Profund Advisors LLC increased its position in shares of Skechers U.S.A. by 3.5% during the 1st quarter. Profund Advisors LLC now owns 18,533 shares of the textile maker’s stock worth $509,000 after purchasing an additional 622 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Skechers U.S.A. by 143.6% during the 1st quarter. Russell Investments Group Ltd. now owns 181,142 shares of the textile maker’s stock worth $4,973,000 after purchasing an additional 106,780 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Skechers U.S.A. by 124.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 99,400 shares of the textile maker’s stock worth $2,729,000 after purchasing an additional 55,200 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Skechers U.S.A. by 4.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 79,807 shares of the textile maker’s stock worth $2,190,000 after purchasing an additional 3,036 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Skechers U.S.A. by 43.5% during the 1st quarter. First Trust Advisors LP now owns 182,607 shares of the textile maker’s stock worth $5,013,000 after purchasing an additional 55,396 shares during the last quarter. 70.57% of the stock is currently owned by hedge funds and other institutional investors.

SKX has been the topic of a number of recent analyst reports. Vetr lowered Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 target price on the stock. in a report on Tuesday, July 25th. BidaskClub raised Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the stock a “buy” rating in a report on Monday, August 14th. OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research lowered Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.10.

Shares of Skechers U.S.A., Inc. (NYSE SKX) opened at 26.39 on Friday. Skechers U.S.A., Inc. has a 1-year low of $18.81 and a 1-year high of $30.00. The company has a market capitalization of $4.18 billion, a P/E ratio of 18.30 and a beta of 0.18. The company has a 50-day moving average price of $27.22 and a 200 day moving average price of $26.75.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $966.46 million. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A., Inc. will post $1.57 EPS for the current year.

In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $567,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The disclosure for this sale can be found here. Company insiders own 21.73% of the company’s stock.

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Skechers U.S.A. Company 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.

Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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