Olstein Capital Management L.P. Acquires 1,156 Shares of Skechers U.S.A., Inc. (SKX)
Olstein Capital Management L.P. raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,600 shares of the textile maker’s stock after buying an additional 1,156 shares during the period. Skechers U.S.A. comprises 1.1% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 29th largest position. Olstein Capital Management L.P.’s holdings in Skechers U.S.A. were worth $9,015,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after buying an additional 3,120 shares during the period. US Bancorp DE raised its stake in shares of Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock worth $107,000 after buying an additional 1,897 shares during the period. Exane Derivatives acquired a new stake in shares of Skechers U.S.A. during the second quarter worth approximately $118,000. Neuburgh Advisers LLC raised its stake in shares of Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock worth $132,000 after buying an additional 176 shares during the period. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in shares of Skechers U.S.A. during the first quarter worth approximately $137,000. Institutional investors and hedge funds own 67.86% of the company’s stock.
Skechers U.S.A., Inc. (NYSE:SKX) opened at 28.72 on Tuesday. The company’s 50-day moving average is $28.60 and its 200 day moving average is $26.53. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 19.92 and a beta of 0.18. Skechers U.S.A., Inc. has a 52-week low of $18.81 and a 52-week high of $30.00.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.06. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. Skechers U.S.A.’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts forecast that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current fiscal year.
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A number of brokerages have commented on SKX. Vetr upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price target for the company in a research note on Thursday, April 27th. UBS AG upgraded shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating in a research note on Monday, June 5th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $25.00 price target on shares of Skechers U.S.A. in a research note on Monday, April 24th. BidaskClub lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Cowen and Company restated a “buy” rating and set a $35.00 price target on shares of Skechers U.S.A. in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.10.
In related news, Director Richard Rappaport sold 1,500 shares of Skechers U.S.A. stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $567,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 38.20% of the stock is owned by insiders.
Skechers U.S.A. 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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