NumerixS Investment Technologies Inc Acquires 15,650 Shares of Skechers USA Inc (SKX)
NumerixS Investment Technologies Inc boosted its holdings in shares of Skechers USA Inc (NYSE:SKX) by 184.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,150 shares of the textile maker’s stock after buying an additional 15,650 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in Skechers USA were worth $802,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in SKX. Massachusetts Financial Services Co. MA bought a new stake in Skechers USA during the fourth quarter valued at approximately $56,133,000. Norges Bank bought a new stake in Skechers USA during the fourth quarter valued at approximately $29,796,000. Oregon Public Employees Retirement Fund grew its position in Skechers USA by 2,192.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after buying an additional 1,179,958 shares during the period. Millennium Management LLC boosted its position in shares of Skechers USA by 244.7% in the fourth quarter. Millennium Management LLC now owns 1,225,870 shares of the textile maker’s stock worth $28,060,000 after purchasing an additional 870,212 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Skechers USA by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 7,152,667 shares of the textile maker’s stock worth $163,725,000 after purchasing an additional 548,322 shares during the period. Institutional investors own 76.49% of the company’s stock.
A number of equities analysts have weighed in on the stock. B. Riley reiterated a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Susquehanna Bancshares upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and upped their price target for the stock from $32.00 to $37.00 in a research report on Wednesday, March 27th. Standpoint Research lowered shares of Skechers USA from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. TheStreet upgraded shares of Skechers USA from a “c+” rating to a “b” rating in a research report on Thursday, February 14th. Finally, Cowen reiterated a “hold” rating and issued a $34.00 price target on shares of Skechers USA in a research report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.33.
Skechers USA (NYSE:SKX) last released its earnings results on Thursday, April 18th. The textile maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). Skechers USA had a return on equity of 13.56% and a net margin of 6.26%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm posted $0.75 EPS. Skechers USA’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Skechers USA Inc will post 2.02 EPS for the current year.
In other news, President Michael Greenberg sold 71,178 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $32.69, for a total value of $2,326,808.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Greenberg sold 29,769 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $35.00, for a total transaction of $1,041,915.00. The disclosure for this sale can be found here. Insiders sold 220,868 shares of company stock worth $7,153,295 in the last three months. Insiders own 28.08% of the company’s stock.
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Skechers USA 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.
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