Skechers USA Inc (NYSE:SKX) Shares Bought by Granite Investment Partners LLC
Granite Investment Partners LLC lifted its position in Skechers USA Inc (NYSE:SKX) by 23.7% during the first quarter, Holdings Channel reports. The fund owned 39,968 shares of the textile maker’s stock after acquiring an additional 7,662 shares during the period. Granite Investment Partners LLC’s holdings in Skechers USA were worth $1,343,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Advisor Group Inc. boosted its position in shares of Skechers USA by 5.6% during the 4th quarter. Advisor Group Inc. now owns 25,769 shares of the textile maker’s stock worth $589,000 after acquiring an additional 1,378 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Skechers USA by 3.1% during the 4th quarter. Texas Permanent School Fund now owns 87,610 shares of the textile maker’s stock worth $2,005,000 after acquiring an additional 2,606 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Skechers USA by 2,192.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock worth $54,000 after acquiring an additional 1,179,958 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Skechers USA by 50.5% during the 4th quarter. Prudential Financial Inc. now owns 1,260,252 shares of the textile maker’s stock worth $28,847,000 after acquiring an additional 423,054 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Skechers USA by 35.7% during the 4th quarter. Boston Partners now owns 1,955,660 shares of the textile maker’s stock worth $44,765,000 after acquiring an additional 514,734 shares in the last quarter. 76.49% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on SKX. B. Riley reaffirmed a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Susquehanna Bancshares raised Skechers USA from a “neutral” rating to a “positive” rating and upped their target price for the company from $32.00 to $37.00 in a research report on Wednesday, March 27th. Standpoint Research cut Skechers USA from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. TheStreet raised Skechers USA from a “c+” rating to a “b” rating in a research report on Thursday, February 14th. Finally, Cowen reissued a “hold” rating and issued a $34.00 target price on shares of Skechers USA in a research report on Tuesday, February 12th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $32.33.
SKX traded up $0.31 on Wednesday, hitting $30.00. 15,299 shares of the company traded hands, compared to its average volume of 2,347,076. The company has a quick ratio of 2.00, a current ratio of 2.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $4.72 billion, a PE ratio of 15.60, a P/E/G ratio of 2.17 and a beta of 0.67. Skechers USA Inc has a 12-month low of $21.45 and a 12-month high of $35.66.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 18th. The textile maker reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Skechers USA had a net margin of 6.26% and a return on equity of 13.56%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, sell-side analysts expect that Skechers USA Inc will post 2.02 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Skechers USA Inc (NYSE:SKX) Shares Bought by Granite Investment Partners LLC” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2019/06/12/skechers-usa-inc-nyseskx-shares-bought-by-granite-investment-partners-llc.html.
Skechers USA Company Profile
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.
Further Reading: Is it Safe to Invest in Commodities?
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers USA Inc (NYSE:SKX).
Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.