Semanteon Capital Management LP Invests $330,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Semanteon Capital Management LP bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 4,928 shares of the textile maker’s stock, valued at approximately $330,000.

A number of other hedge funds have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new stake in Skechers U.S.A. during the first quarter valued at $25,000. Bessemer Group Inc. raised its position in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after acquiring an additional 164 shares in the last quarter. UMB Bank n.a. lifted its stake in Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Skechers U.S.A. by 2,809.1% during the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after acquiring an additional 618 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 4.5 %

NYSE SKX opened at $61.86 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.83 and a beta of 1.22. Skechers U.S.A., Inc. has a twelve month low of $46.06 and a twelve month high of $75.09. The business’s fifty day moving average is $65.89 and its 200 day moving average is $66.26.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $0.93 EPS. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.2 EPS for the current fiscal year.

Skechers U.S.A. announced that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the textile maker to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

SKX has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays increased their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. TD Cowen cut their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Skechers U.S.A. has an average rating of “Buy” and an average target price of $78.09.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.