Mackay Shields LLC reduced its position in Skechers USA Inc (NYSE:SKX) by 35.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 352,981 shares of the textile maker’s stock after selling 192,772 shares during the quarter. Mackay Shields LLC’s holdings in Skechers USA were worth $13,184,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. NuWave Investment Management LLC increased its position in Skechers USA by 271.4% in the 3rd quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock worth $26,000 after purchasing an additional 521 shares during the last quarter. Meeder Asset Management Inc. increased its position in Skechers USA by 1,270.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock worth $39,000 after purchasing an additional 953 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in Skechers USA in the 2nd quarter worth about $43,000. Cerebellum GP LLC bought a new stake in shares of Skechers USA during the 3rd quarter worth about $63,000. Finally, Machina Capital S.A.S. bought a new stake in shares of Skechers USA during the 2nd quarter worth about $120,000. 76.27% of the stock is currently owned by institutional investors.
In related news, Director Richard Siskind sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $36.25, for a total transaction of $543,750.00. Following the completion of the sale, the director now owns 172,499 shares in the company, valued at approximately $6,253,088.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Greenberg sold 60,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $35.00, for a total value of $2,100,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,000 shares of company stock valued at $15,080,850. 28.08% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on the company. OTR Global upgraded Skechers USA from a “mixed” rating to a “positive” rating in a research note on Thursday, July 11th. ValuEngine downgraded Skechers USA from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their price target on Skechers USA from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Co set a $40.00 price target on Skechers USA and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research upped their price target on Skechers USA to $42.50 in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.72.
Shares of NYSE:SKX opened at $38.82 on Thursday. The business has a 50 day moving average price of $36.88 and a 200 day moving average price of $33.30. Skechers USA Inc has a twelve month low of $21.45 and a twelve month high of $40.50. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.12 and a beta of 0.79. The company has a quick ratio of 1.57, a current ratio of 2.37 and a debt-to-equity ratio of 0.43.
Skechers USA (NYSE:SKX) last announced its earnings results on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). Skechers USA had a net margin of 6.73% and a return on equity of 14.85%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $0.58 EPS. Skechers USA’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate that Skechers USA Inc will post 2.25 EPS for the current year.
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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