Worth Venture Partners LLC Acquires 3,700 Shares of Skechers U.S.A., Inc. (SKX)
Worth Venture Partners LLC grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 24.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,900 shares of the textile maker’s stock after acquiring an additional 3,700 shares during the period. Worth Venture Partners LLC’s holdings in Skechers U.S.A. were worth $474,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of SKX. Mik Capital LLC bought a new stake in Skechers U.S.A. in the second quarter worth approximately $56,285,000. Amerigo Asset Management boosted its holdings in shares of Skechers U.S.A. by 38.2% during the 2nd quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after buying an additional 1,694,253 shares during the period. State Street Corp boosted its holdings in shares of Skechers U.S.A. by 47.2% during the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after buying an additional 1,613,977 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Skechers U.S.A. by 125.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock worth $67,919,000 after buying an additional 1,282,260 shares during the period. Finally, Columbus Circle Investors bought a new stake in shares of Skechers U.S.A. during the 2nd quarter worth $31,638,000. 70.10% of the stock is owned by institutional investors.
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In other news, Director Jeffrey Greenberg sold 180,000 shares of the firm’s stock in a transaction dated 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 SEC, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $27.24, for a total transaction of $27,348.96. The disclosure for this sale can be found here. Insiders sold a total of 386,504 shares of company stock worth $12,319,249 in the last ninety days. Insiders own 38.20% of the company’s stock.
SKX has been the subject of several recent analyst reports. Buckingham Research set a $34.00 price objective on shares of Skechers U.S.A. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Citigroup Inc. upped their price objective on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 21st. B. Riley reaffirmed a “buy” rating and set a $37.00 price objective on shares of Skechers U.S.A. in a report on Friday, July 21st. Cowen and Company set a $35.00 price objective on shares of Skechers U.S.A. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Finally, Vetr downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price target for the company. in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $34.74.
Skechers U.S.A., Inc. (SKX) traded up $0.46 on Tuesday, reaching $32.46. 1,724,600 shares of the company’s stock traded hands, compared to its average volume of 2,838,444. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5,120.00, a PE ratio of 19.88, a PEG ratio of 1.36 and a beta of 0.11. Skechers U.S.A., Inc. has a 52-week low of $21.33 and a 52-week high of $34.87.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 13.70%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. sell-side analysts expect that Skechers U.S.A., Inc. will post 1.69 EPS for the current fiscal year.
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.
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