Voleon Capital Management LP Takes Position in Skechers USA Inc (NYSE:SKX)

Voleon Capital Management LP purchased a new stake in Skechers USA Inc (NYSE:SKX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 96,000 shares of the textile maker’s stock, valued at approximately $3,023,000. Voleon Capital Management LP owned approximately 0.06% of Skechers USA at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SKX. AQR Capital Management LLC grew its position in shares of Skechers USA by 120.9% in the second quarter. AQR Capital Management LLC now owns 3,891,267 shares of the textile maker’s stock valued at $121,213,000 after purchasing an additional 2,129,743 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Skechers USA in the second quarter valued at approximately $37,073,000. APG Asset Management N.V. purchased a new stake in shares of Skechers USA in the second quarter valued at approximately $15,811,000. Smith Asset Management Group LP grew its position in shares of Skechers USA by 100.5% in the second quarter. Smith Asset Management Group LP now owns 1,040,710 shares of the textile maker’s stock valued at $32,772,000 after purchasing an additional 521,630 shares in the last quarter. Finally, Tremblant Capital Group grew its position in shares of Skechers USA by 20.3% in the second quarter. Tremblant Capital Group now owns 2,353,232 shares of the textile maker’s stock valued at $74,103,000 after purchasing an additional 397,260 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Skechers USA stock traded up $0.42 during mid-day trading on Wednesday, hitting $35.91. The company’s stock had a trading volume of 91,053 shares, compared to its average volume of 2,167,582. The firm has a market capitalization of $5.65 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81. Skechers USA Inc has a 1 year low of $21.45 and a 1 year high of $40.50. The company has a current ratio of 2.51, a quick ratio of 1.65 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $33.10 and its two-hundred day moving average is $32.47.



Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. On average, equities analysts expect that Skechers USA Inc will post 2.25 EPS for the current fiscal year.

In other Skechers USA news, Director Thomas Walsh sold 1,500 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $39.77, for a total transaction of $59,655.00. Following the transaction, the director now directly owns 15,500 shares in the company, valued at $616,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Greenberg sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.53, for a total value of $3,453,000.00. The disclosure for this sale can be found here. Insiders have sold 371,500 shares of company stock worth $13,649,055 over the last 90 days. 28.08% of the stock is owned by insiders.

A number of research firms have recently issued reports on SKX. Stifel Nicolaus upped their price target on Skechers USA from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Co set a $40.00 price objective on Skechers USA and gave the stock a “hold” rating in a research report on Friday, July 19th. UBS Group increased their price objective on Skechers USA to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. OTR Global upgraded Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday, July 11th. Finally, Susquehanna Bancshares increased their price objective on Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Skechers USA presently has an average rating of “Hold” and an average price target of $38.50.

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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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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