Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Advisor Resource Council

Advisor Resource Council lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 49.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,542 shares of the textile maker’s stock after selling 9,398 shares during the period. Advisor Resource Council’s holdings in Skechers U.S.A. were worth $595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bfsg LLC raised its position in shares of Skechers U.S.A. by 2.9% during the 4th quarter. Bfsg LLC now owns 6,545 shares of the textile maker’s stock worth $408,000 after acquiring an additional 186 shares in the last quarter. National Bank of Canada FI raised its position in shares of Skechers U.S.A. by 7.1% during the 4th quarter. National Bank of Canada FI now owns 3,035 shares of the textile maker’s stock worth $188,000 after acquiring an additional 200 shares in the last quarter. 1492 Capital Management LLC raised its position in shares of Skechers U.S.A. by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 26,270 shares of the textile maker’s stock worth $1,638,000 after acquiring an additional 259 shares in the last quarter. Janney Capital Management LLC raised its position in shares of Skechers U.S.A. by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 8,910 shares of the textile maker’s stock worth $555,000 after acquiring an additional 264 shares in the last quarter. Finally, Cascade Investment Advisors Inc. raised its position in shares of Skechers U.S.A. by 1.9% during the 4th quarter. Cascade Investment Advisors Inc. now owns 19,895 shares of the textile maker’s stock worth $1,240,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded up $0.21 during midday trading on Thursday, hitting $67.32. The company had a trading volume of 707,314 shares, compared to its average volume of 2,000,928. The company’s 50 day simple moving average is $69.45 and its 200 day simple moving average is $63.71. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $75.09. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $1.02 EPS. The company’s revenue was up 12.5% on a year-over-year basis. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.08 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the sale, the general counsel now directly owns 35,000 shares in the company, valued at $2,430,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

SKX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $82.00 target price on shares of Skechers U.S.A. in a research report on Thursday, June 13th. TD Cowen lifted their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price target on shares of Skechers U.S.A. in a research report on Friday, May 17th. Bank of America raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $71.00 to $87.00 in a research report on Friday, June 7th. Finally, Wells Fargo & Company started coverage on Skechers U.S.A. in a research report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Skechers U.S.A. Company Profile

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.