Baker Ellis Asset Management LLC increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,245 shares of the textile maker’s stock after purchasing an additional 4,100 shares during the quarter. Baker Ellis Asset Management LLC owned 0.05% of Skechers U.S.A. worth $3,309,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in SKX. Cim LLC raised its stake in shares of Skechers U.S.A. by 0.8% during the second quarter. Cim LLC now owns 30,599 shares of the textile maker’s stock valued at $1,650,000 after purchasing an additional 250 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Skechers U.S.A. by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,088 shares of the textile maker’s stock valued at $353,000 after purchasing an additional 250 shares in the last quarter. Absher Wealth Management LLC raised its stake in shares of Skechers U.S.A. by 2.2% during the second quarter. Absher Wealth Management LLC now owns 24,667 shares of the textile maker’s stock valued at $1,229,000 after purchasing an additional 529 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Skechers U.S.A. by 110.9% during the second quarter. Exchange Traded Concepts LLC now owns 1,118 shares of the textile maker’s stock valued at $56,000 after purchasing an additional 588 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Skechers U.S.A. during the second quarter valued at about $33,000. 78.88% of the stock is owned by hedge funds and other institutional investors.
In other Skechers U.S.A. news, Director Jeffrey Greenberg sold 50,000 shares of Skechers U.S.A. stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $45.38, for a total transaction of $2,269,000.00. Following the transaction, the director now owns 1,255 shares of the company’s stock, valued at approximately $56,951.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 25.92% of the company’s stock.
Shares of SKX opened at $46.00 on Friday. The business’s 50-day moving average price is $45.28 and its 200 day moving average price is $47.95. The stock has a market capitalization of $7.17 billion, a P/E ratio of 18.33 and a beta of 1.50. Skechers U.S.A., Inc. has a 1-year low of $32.96 and a 1-year high of $55.87. The company has a current ratio of 2.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 28th. The textile maker reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.05). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Skechers U.S.A. had a return on equity of 12.87% and a net margin of 6.58%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. On average, research analysts predict that Skechers U.S.A., Inc. will post 2.48 earnings per share for the current year.
About Skechers U.S.A.
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.
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