SG Americas Securities LLC trimmed its holdings in shares of Skechers USA Inc (NYSE:SKX) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,764 shares of the textile maker’s stock after selling 15,280 shares during the quarter. SG Americas Securities LLC’s holdings in Skechers USA were worth $1,597,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. NuWave Investment Management LLC grew its position in Skechers USA by 271.4% during the third quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock valued at $26,000 after buying an additional 521 shares during the period. Meeder Asset Management Inc. grew its position in Skechers USA by 1,270.7% during the third quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock valued at $39,000 after buying an additional 953 shares during the period. Hanseatic Management Services Inc. bought a new position in shares of Skechers USA in the second quarter worth approximately $43,000. Cerebellum GP LLC bought a new position in shares of Skechers USA in the third quarter worth approximately $63,000. Finally, Atria Investments LLC bought a new position in shares of Skechers USA in the second quarter worth approximately $346,000. Institutional investors own 77.03% of the company’s stock.
SKX opened at $40.47 on Friday. The firm has a market cap of $6.27 billion, a P/E ratio of 21.08, a PEG ratio of 1.19 and a beta of 0.79. Skechers USA Inc has a 1-year low of $21.45 and a 1-year high of $40.50. The company has a 50 day simple moving average of $37.53 and a two-hundred day simple moving average of $33.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.57.
In related news, Director Jeffrey Greenberg sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.53, for a total transaction of $3,453,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Siskind sold 15,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 172,499 shares of the company’s stock, valued at approximately $6,253,088.75. 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 company insiders.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upped their price target on shares of Skechers USA to $42.50 in a research report on Tuesday, October 15th. Wedbush set a $46.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a research report on Monday, September 23rd. ValuEngine lowered shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upped their price target on shares of Skechers USA from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. 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 stock currently has an average rating of “Hold” and an average target price of $41.72.
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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