Aviance Capital Management LLC Invests $109,000 in Skechers U.S.A., Inc. (SKX) Stock
Aviance Capital Management LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,709 shares of the textile maker’s stock, valued at approximately $109,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Alps Advisors Inc. grew its holdings in Skechers U.S.A. by 0.3% during the second quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock worth $540,000 after acquiring an additional 47 shares during the period. Utah Retirement Systems lifted its holdings in Skechers U.S.A. by 0.4% in the first quarter. Utah Retirement Systems now owns 23,700 shares of the textile maker’s stock valued at $651,000 after acquiring an additional 100 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Skechers U.S.A. by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 61,790 shares of the textile maker’s stock valued at $1,696,000 after acquiring an additional 160 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Skechers U.S.A. by 6.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 335 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Skechers U.S.A. by 0.6% in the second quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock valued at $2,367,000 after acquiring an additional 503 shares during the period. Institutional investors own 70.52% of the company’s stock.
Skechers U.S.A., Inc. (NYSE:SKX) traded up 1.09% during trading on Wednesday, reaching $25.09. The company had a trading volume of 421,679 shares. The stock has a market cap of $3.98 billion, a PE ratio of 17.40 and a beta of 0.19. Skechers U.S.A., Inc. has a 52-week low of $18.81 and a 52-week high of $30.00. The company has a 50-day moving average price of $26.12 and a 200 day moving average price of $26.66.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, analysts anticipate that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current year.
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 38.20% of the stock is currently owned by corporate insiders.
Several analysts recently commented on the stock. Vetr cut shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective for the company. in a research note on Tuesday, July 25th. BidaskClub raised Skechers U.S.A. from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Cowen and Company set a $35.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a report on Monday, August 14th. OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research note on Tuesday, July 18th. Finally, Zacks Investment Research cut Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Skechers U.S.A. has a consensus rating of “Buy” and a consensus price target of $31.02.
Skechers U.S.A. 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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