Nuveen Asset Management LLC raised its position in Skechers U.S.A., Inc. (NYSE:SKX) by 127.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,565 shares of the textile maker’s stock after buying an additional 32,227 shares during the period. Nuveen Asset Management LLC’s holdings in Skechers U.S.A. were worth $1,580,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of Skechers U.S.A. by 0.9% in the first quarter. Public Employees Retirement System of Ohio now owns 59,260 shares of the textile maker’s stock worth $1,627,000 after buying an additional 523 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after buying an additional 3,120 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Skechers U.S.A. during the first quarter worth about $1,339,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Skechers U.S.A. during the first quarter worth about $7,410,000. Finally, Scopus Asset Management L.P. acquired a new stake in shares of Skechers U.S.A. during the first quarter worth about $6,025,000. 64.92% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A., Inc. (NYSE:SKX) opened at 28.67 on Tuesday. The stock has a market capitalization of $4.54 billion, a P/E ratio of 18.59 and a beta of 0.18. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $32.71. The company’s 50-day moving average price is $26.15 and its 200 day moving average price is $25.78.
Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 20th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Skechers U.S.A. had a return on equity of 14.20% and a net margin of 6.56%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. Equities research analysts expect that Skechers U.S.A., Inc. will post $1.77 EPS for the current fiscal year.
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Several research firms have commented on SKX. OTR Global upgraded Skechers U.S.A. to a “positive” rating in a report on Tuesday. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.12 price objective on the stock. in a report on Monday. BidaskClub downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Cowen and Company restated an “outperform” rating and set a $35.00 price objective on shares of Skechers U.S.A. in a report on Wednesday, June 21st. Finally, Morgan Stanley raised their price objective on Skechers U.S.A. from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.93.
In related news, COO David Weinberg sold 23,502 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total value of $589,430.16. Following the transaction, the chief operating officer now owns 193,502 shares of the company’s stock, valued at $4,853,030.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Rappaport sold 1,500 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $567,600. The disclosure for this sale can be found here. 38.20% of the stock is currently owned by company insiders.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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