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.

A number of research analysts have weighed in on the stock. OTR Global upgraded shares of Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday. B. Riley reiterated a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Finally, Susquehanna Bancshares upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $32.00 to $37.00 in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.33.

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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