Cornerstone Financial Partners LLC boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 26.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,212 shares of the textile maker’s stock after purchasing an additional 2,790 shares during the period. Cornerstone Financial Partners LLC’s holdings in Skechers U.S.A. were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. Seven Eight Capital LP acquired a new position in Skechers U.S.A. during the second quarter valued at $105,000. Aviance Capital Management LLC acquired a new position in Skechers U.S.A. during the second quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Skechers U.S.A. by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after purchasing an additional 503 shares during the period. PNC Financial Services Group Inc. lifted its position in Skechers U.S.A. by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 335 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in Skechers U.S.A. in the second quarter valued at $206,000. Institutional investors own 69.65% of the company’s stock.

In related news, Director Jeffrey Greenberg sold 180,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $31.72, for a total transaction of $5,709,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Siskind sold 25,500 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total transaction of $851,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 385,500 shares of company stock valued at $12,291,900. 21.73% of the stock is owned by corporate insiders.

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Shares of Skechers U.S.A., Inc. (SKX) traded up $0.49 during midday trading on Friday, reaching $33.67. 1,145,800 shares of the company traded hands, compared to its average volume of 2,808,207. Skechers U.S.A., Inc. has a one year low of $21.33 and a one year high of $34.87. The stock has a market cap of $5,335.69, a PE ratio of 20.91, a PEG ratio of 1.41 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company earned $0.42 EPS. Skechers U.S.A.’s revenue was up 16.2% compared to the same quarter last year. research analysts anticipate that Skechers U.S.A., Inc. will post 1.71 earnings per share for the current fiscal year.

SKX has been the subject of a number of recent analyst reports. Cowen Inc reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Skechers U.S.A. in a report on Friday, October 27th. B. Riley set a $37.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a report on Friday, October 20th. Zacks Investment Research cut shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $28.50 to $31.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Finally, Vetr cut shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating and set a $33.73 price objective for the company. in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Skechers U.S.A. currently has an average rating of “Hold” and a consensus price target of $34.74.

About Skechers U.S.A.

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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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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