Trexquant Investment LP Invests $1.85 Million in Skechers U.S.A., Inc. (SKX)
Trexquant Investment LP bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 73,585 shares of the textile maker’s stock, valued at approximately $1,846,000. Skechers U.S.A. accounts for approximately 0.5% of Trexquant Investment LP’s holdings, making the stock its 22nd largest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKX. Alps Advisors Inc. lifted its stake in Skechers U.S.A. by 0.3% during the second quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock worth $540,000 after purchasing an additional 47 shares during the period. Utah Retirement Systems lifted its stake in Skechers U.S.A. by 1.3% during the second quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock worth $708,000 after purchasing an additional 300 shares during the period. PNC Financial Services Group Inc. lifted its stake in Skechers U.S.A. by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after purchasing an additional 335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Skechers U.S.A. by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after purchasing an additional 503 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in Skechers U.S.A. by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock worth $2,367,000 after purchasing an additional 503 shares during the period. Institutional investors and hedge funds own 69.65% of the company’s stock.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) traded down $0.13 during trading on Monday, hitting $33.54. 379,900 shares of the company were exchanged, compared to its average volume of 2,797,510. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5,315.08, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.41 and a beta of 0.11. Skechers U.S.A., Inc. has a fifty-two week low of $21.33 and a fifty-two week high of $34.87.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. Skechers U.S.A.’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. equities analysts anticipate that Skechers U.S.A., Inc. will post 1.71 earnings per share for the current fiscal year.
In related news, Director Jeffrey Greenberg sold 180,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $31.72, for a total value of $5,709,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael Greenberg sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of the sale, the president now directly owns 251,679 shares of the company’s stock, valued at approximately $8,018,492.94. The disclosure for this sale can be found here. In the last three months, insiders sold 385,500 shares of company stock valued at $12,291,900. 21.73% of the stock is currently owned by company insiders.
A number of research analysts have commented on the stock. Vetr cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $34.87 price target for the company. in a research note on Monday. Cowen Inc restated a “buy” rating and set a $38.00 price target on shares of Skechers U.S.A. in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a report on Monday, October 23rd. Buckingham Research set a $36.00 price objective on shares of Skechers U.S.A. and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Susquehanna Bancshares Inc reaffirmed a “buy” rating on shares of Skechers U.S.A. in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Skechers U.S.A. has a consensus rating of “Hold” and an average target price of $34.74.
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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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