Royce & Associates LP raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 21.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 641,364 shares of the textile maker’s stock after buying an additional 113,800 shares during the period. Royce & Associates LP owned 0.41% of Skechers U.S.A. worth $18,920,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SKX. Capstone Asset Management Co. boosted its stake in Skechers U.S.A. by 0.9% in the first quarter. Capstone Asset Management Co. now owns 18,446 shares of the textile maker’s stock valued at $506,000 after buying an additional 160 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Skechers U.S.A. by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the textile maker’s stock valued at $928,000 after buying an additional 800 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Skechers U.S.A. by 0.3% in the first quarter. Retirement Systems of Alabama now owns 172,700 shares of the textile maker’s stock valued at $4,741,000 after buying an additional 523 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Skechers U.S.A. by 0.7% in the first quarter. Nationwide Fund Advisors now owns 223,345 shares of the textile maker’s stock valued at $6,131,000 after buying an additional 1,626 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in Skechers U.S.A. by 3.5% in the first quarter. Profund Advisors LLC now owns 18,533 shares of the textile maker’s stock valued at $509,000 after buying an additional 622 shares in the last quarter. 70.57% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A., Inc. (SKX) opened at 26.82 on Wednesday. Skechers U.S.A., Inc. has a one year low of $18.81 and a one year high of $30.00. The company’s 50-day moving average price is $28.15 and its 200 day moving average price is $26.69. The firm has a market capitalization of $4.25 billion, a PE ratio of 18.60 and a beta of 0.18.

Skechers U.S.A. (NYSE:SKX) last announced 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company’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 business earned $0.48 earnings per share. On average, analysts forecast that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current year.

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Several analysts have recently commented on SKX shares. Vetr raised Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price target for the company in a report on Wednesday, May 3rd. Citigroup Inc. raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their price target for the company from $25.52 to $30.00 in a report on Thursday, June 1st. UBS AG raised Skechers U.S.A. from a “neutral” rating to a “positive” rating in a report on Monday, June 5th. Susquehanna Bancshares Inc raised Skechers U.S.A. from a “neutral” rating to a “positive” rating and raised their price target for the company from $25.00 to $32.00 in a report on Monday, June 5th. Finally, Morgan Stanley raised their price target on Skechers U.S.A. from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $31.10.

In other news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. 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 legal filing with the SEC, which is available through this link. Also, Director Richard Rappaport sold 1,500 shares of Skechers U.S.A. 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 transaction, the director now directly owns 20,000 shares in the company, valued at $567,600. The disclosure for this sale can be found here. Company insiders own 38.20% of the company’s stock.

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.

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

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