Skechers USA Inc. (SKX) Shares Bought by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd increased its position in Skechers USA Inc. (NYSE:SKX) by 88.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,802 shares of the company’s stock after buying an additional 7,414 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Skechers USA were worth $470,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA bought a new position in Skechers USA during the second quarter worth about $117,000. PNC Financial Services Group Inc. boosted its position in Skechers USA by 20.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,442 shares of the company’s stock worth $192,000 after buying an additional 1,079 shares in the last quarter. Creative Planning boosted its position in Skechers USA by 40.7% in the second quarter. Creative Planning now owns 8,074 shares of the company’s stock worth $240,000 after buying an additional 2,335 shares in the last quarter. LS Investment Advisors LLC boosted its position 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. Finally, Bayesian Capital Management LP bought a new position in Skechers USA during the first quarter worth about $253,000. 65.70% of the stock is owned by institutional investors and hedge funds.
Skechers USA Inc. (NYSE:SKX) opened at 23.20 on Tuesday. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.40 and a beta of 0.32. The company’s 50-day moving average is $24.14 and its 200-day moving average is $28.73. Skechers USA Inc. has a 52-week low of $22.44 and a 52-week high of $49.28.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by $0.02. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The business earned $877.80 million during the quarter, compared to analysts’ expectations of $892.06 million. During the same quarter last year, the company earned $0.52 EPS. Equities analysts predict that Skechers USA Inc. will post $1.83 earnings per share for the current year.
A number of research analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $32.00 price target on shares of Skechers USA in a report on Monday, July 25th. Zacks Investment Research cut shares of Skechers USA from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Vetr raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 target price for the company in a report on Tuesday, July 19th. Morgan Stanley reissued a “buy” rating on shares of Skechers USA in a report on Monday, June 6th. Finally, Argus cut shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.39.
In related news, Director Jeffrey Greenberg sold 10,000 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $30.15, for a total value of $301,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Phillip Paccione sold 1,389 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $24.12, for a total transaction of $33,502.68. Following the completion of the sale, the general counsel now owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The disclosure for this sale can be found here. 21.73% of the stock is currently owned by corporate insiders.
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.
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