Bank of Montreal Can Buys New Stake in Skechers USA Inc. (SKX)
Bank of Montreal Can bought a new stake in shares of Skechers USA Inc. (NYSE:SKX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 496,724 shares of the company’s stock, valued at approximately $14,762,000. Bank of Montreal Can owned 0.32% of Skechers USA at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning raised its position in Skechers USA by 40.7% in the second quarter. Creative Planning now owns 8,074 shares of the company’s stock valued at $240,000 after buying an additional 2,335 shares during the last quarter. LS Investment Advisors LLC raised its stake in Skechers USA by 68.8% in the second quarter. LS Investment Advisors LLC now owns 8,193 shares of the company’s stock worth $243,000 after buying an additional 3,340 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in Skechers USA by 20.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 8,390 shares of the company’s stock worth $249,000 after buying an additional 1,440 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Skechers USA during the first quarter worth approximately $253,000. Finally, Regent Investment Management LLC raised its stake in Skechers USA by 29.4% in the second quarter. Regent Investment Management LLC now owns 8,800 shares of the company’s stock worth $262,000 after buying an additional 2,000 shares in the last quarter. 65.70% of the stock is currently owned by hedge funds and other institutional investors.
Skechers USA Inc. (NYSE:SKX) traded up 4.52% during mid-day trading on Friday, hitting $22.90. The stock had a trading volume of 3,755,624 shares. The firm’s 50-day moving average price is $23.78 and its 200-day moving average price is $28.14. Skechers USA Inc. has a 1-year low of $20.90 and a 1-year high of $49.28. The stock has a market cap of $3.62 billion, a PE ratio of 13.23 and a beta of 0.32.
Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $877.80 million for the quarter, compared to the consensus estimate of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities analysts expect that Skechers USA Inc. will post $1.80 earnings per share for the current year.
A number of research firms have recently commented on SKX. B. Riley reaffirmed a “buy” rating and set a $42.00 price target on shares of Skechers USA in a research report on Tuesday, July 19th. Monness Crespi & Hardt lowered Skechers USA from a “buy” rating to a “neutral” rating in a research report on Friday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a research report on Monday, July 18th. Susquehanna began coverage on Skechers USA in a research report on Friday, August 12th. They set a “neutral” rating and a $27.00 price target on the stock. Finally, Argus lowered Skechers USA from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $30.37.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the completion of the transaction, the general counsel now directly owns 90,445 shares of the company’s stock, valued at $2,181,533.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 21.73% of the company’s stock.
Skechers USA 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.
Receive News & Stock Ratings for Skechers USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related stocks with our FREE daily email newsletter.