Skechers USA Inc (NYSE:SKX) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lessened its holdings in shares of Skechers USA Inc (NYSE:SKX) by 11.4% during the 3rd quarter, Holdings Channel reports. The firm owned 10,346 shares of the textile maker’s stock after selling 1,327 shares during the period. Alps Advisors Inc.’s holdings in Skechers USA were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SKX. Empirical Finance LLC lifted its holdings in shares of Skechers USA by 1.1% during the 2nd quarter. Empirical Finance LLC now owns 53,757 shares of the textile maker’s stock worth $1,693,000 after acquiring an additional 601 shares during the last quarter. Palmer Knight Co lifted its holdings in shares of Skechers USA by 1.3% during the 2nd quarter. Palmer Knight Co now owns 167,154 shares of the textile maker’s stock worth $5,264,000 after acquiring an additional 2,177 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Skechers USA by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,963 shares of the textile maker’s stock worth $1,699,000 after acquiring an additional 763 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Skechers USA during the 2nd quarter worth $460,000. Finally, Oakbrook Investments LLC bought a new stake in shares of Skechers USA during the 2nd quarter worth $453,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Skechers USA stock opened at $39.23 on Thursday. The company has a quick ratio of 1.57, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.13 billion, a PE ratio of 20.43, a P/E/G ratio of 1.17 and a beta of 0.79. The firm has a fifty day simple moving average of $37.36 and a two-hundred day simple moving average of $33.55. Skechers USA Inc has a twelve month low of $21.45 and a twelve month high of $40.50.

Skechers USA (NYSE:SKX) last posted its quarterly 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). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Skechers USA had a return on equity of 14.85% and a net margin of 6.73%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. As a group, equities analysts expect that Skechers USA Inc will post 2.25 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on SKX shares. Stifel Nicolaus lifted their price objective on shares of Skechers USA from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Zacks Investment Research lifted their price objective on shares of Skechers USA to $42.50 in a report on Tuesday, October 15th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $42.00 price objective (up from $35.00) on shares of Skechers USA in a report on Friday, July 19th. They noted that the move was a valuation call. Susquehanna Bancshares lifted their price objective on shares of Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a report on Friday, July 19th. Finally, UBS Group lifted their price objective on shares of Skechers USA to $50.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Skechers USA currently has a consensus rating of “Hold” and an average target price of $41.72.

In other Skechers USA news, Director Richard Siskind sold 15,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $36.25, for a total value of $543,750.00. Following the completion of the sale, the director now directly owns 172,499 shares of the company’s stock, valued at $6,253,088.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Greenberg sold 30,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $37.00, for a total transaction of $1,110,000.00. The disclosure for this sale can be found here. Insiders sold 415,000 shares of company stock valued at $15,080,850 over the last three months. 28.08% of the stock is currently owned by insiders.

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

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