Skechers USA Inc (NYSE:SKX) Short Interest Down 7.8% in June
Skechers USA Inc (NYSE:SKX) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 9,262,500 shares, a decline of 7.8% from the May 30th total of 10,047,800 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average daily volume of 1,870,000 shares, the short-interest ratio is currently 5.0 days.
Shares of SKX traded up $0.22 during mid-day trading on Monday, hitting $34.33. 97,866 shares of the company were exchanged, compared to its average volume of 1,461,646. Skechers USA has a 1-year low of $21.45 and a 1-year high of $35.66. The company has a current ratio of 2.91, a quick ratio of 2.00 and a debt-to-equity ratio of 0.43. The firm’s 50 day simple moving average is $30.65. The stock has a market cap of $5.41 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.41 and a beta of 0.72.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, April 18th. The textile maker reported $0.71 earnings per share 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 for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Skechers USA will post 2.02 EPS for the current year.
In other Skechers USA news, Director Richard Rappaport sold 3,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $31.29, for a total value of $93,870.00. Following the completion of the transaction, the director now owns 23,000 shares in the company, valued at $719,670. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey Greenberg sold 29,769 shares of the company’s stock in a transaction dated 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 have sold 122,459 shares of company stock valued at $3,942,371 over the last 90 days. 28.08% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Skechers USA in the 4th quarter valued at approximately $29,796,000. Millennium Management LLC grew its stake in shares of Skechers USA by 244.7% in the 4th quarter. Millennium Management LLC now owns 1,225,870 shares of the textile maker’s stock valued at $28,060,000 after buying an additional 870,212 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Skechers USA in the 1st quarter valued at approximately $8,391,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Skechers USA in the 1st quarter valued at approximately $6,508,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Skechers USA by 37.7% in the 4th quarter. Gotham Asset Management LLC now owns 523,525 shares of the textile maker’s stock worth $11,983,000 after acquiring an additional 143,432 shares during the last quarter. 76.45% of the stock is owned by institutional investors.
About Skechers USA
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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