Nationwide Fund Advisors Has $6.76 Million Stake in Skechers U.S.A., Inc. (SKX)
Nationwide Fund Advisors grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,291 shares of the textile maker’s stock after purchasing an additional 5,946 shares during the period. Nationwide Fund Advisors owned approximately 0.15% of Skechers U.S.A. worth $6,764,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Seven Eight Capital LP acquired a new stake in shares of Skechers U.S.A. in the 2nd quarter worth $105,000. Tower Research Capital LLC TRC grew its stake in Skechers U.S.A. by 430.9% during the 1st 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 during the last quarter. US Bancorp DE grew its stake in Skechers U.S.A. by 94.9% during the 1st quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock worth $107,000 after buying an additional 1,897 shares during the last quarter. Exane Derivatives purchased a new position in Skechers U.S.A. during the 2nd quarter worth $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Skechers U.S.A. by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after buying an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company’s stock.
SKX has been the subject of a number of research analyst reports. BidaskClub upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Susquehanna Bancshares Inc restated a “positive” rating and set a $34.00 price target (up previously from $32.00) on shares of Skechers U.S.A. in a research note on Sunday, July 23rd. B. Riley restated a “buy” rating and set a $37.00 price target on shares of Skechers U.S.A. in a research note on Friday, July 21st. Vetr downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective on the stock. in a report on Tuesday, July 25th. Finally, Cowen and Company set a $35.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.93.
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 38.20% of the stock is owned by corporate insiders.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) opened at 25.09 on Monday. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $30.00. The firm has a market capitalization of $3.98 billion, a PE ratio of 17.40 and a beta of 0.19. The firm’s 50-day moving average is $27.08 and its 200 day moving average is $26.77.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. On average, equities analysts forecast that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current year.
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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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