Seven Eight Capital LP acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,571 shares of the textile maker’s stock, valued at approximately $105,000.

Several other hedge funds have also added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its holdings in shares of Skechers U.S.A. by 81.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,955 shares of the textile maker’s stock valued at $294,000 after acquiring an additional 4,455 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Skechers U.S.A. by 3.6% in the 2nd quarter. Alliancebernstein L.P. now owns 82,103 shares of the textile maker’s stock valued at $2,422,000 after acquiring an additional 2,820 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Skechers U.S.A. by 7.7% in the 2nd quarter. Wells Fargo & Company MN now owns 434,414 shares of the textile maker’s stock valued at $12,815,000 after acquiring an additional 30,916 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Skechers U.S.A. by 10.0% in the 2nd quarter. Private Advisor Group LLC now owns 8,751 shares of the textile maker’s stock valued at $254,000 after acquiring an additional 798 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its holdings in shares of Skechers U.S.A. by 20.5% in the 2nd quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock valued at $18,974,000 after acquiring an additional 109,441 shares during the last quarter. 70.52% of the stock is currently owned by institutional investors and hedge funds.

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Several research firms have recently commented on SKX. Vetr downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective on the stock. in a report on Tuesday, July 25th. BidaskClub raised shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Cowen and Company set a $35.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a report on Monday, August 14th. OTR Global raised shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.10.

Skechers U.S.A., Inc. (NYSE:SKX) opened at 25.79 on Thursday. The firm’s 50-day moving average is $27.08 and its 200-day moving average is $26.77. The firm has a market capitalization of $4.09 billion, a PE ratio of 17.88 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 issued its earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). The company had revenue of $1.03 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. 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 business’s stock in a transaction on Thursday, August 24th. The shares were 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 SEC, which can be accessed through this hyperlink. Also, Director Richard Rappaport sold 1,500 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the sale, the director now owns 20,000 shares in the company, valued at $567,600. The disclosure for this sale can be found here. 21.73% of the stock is currently owned by insiders.

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.

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

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