RHUMBLINE ADVISERS REDUCED HOLDING IN SKECHERS USA INC

03/dic/2018 12:13:08 ggu Contatta l'autore

Skechers USA Company Profile

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 wordwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company wholesale 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.

Rhumbline Advisers cut its stake in Skechers USA Inc (NYSE:SKX) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,959 shares of the textile maker’s stock after selling 8,024 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Skechers USA worth $7,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its position in Skechers USA by 1.9% during the second quarter. BlackRock Inc. now owns 13,107,423 shares of the textile maker’s stock worth $393,355,000 after buying an additional 244,350 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Skechers USA by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,047,704 shares of the textile maker’s stock worth $61,451,000 after buying an additional 6,338 shares during the last quarter. Boston Partners increased its position in Skechers USA by 3.2% during the second quarter. Boston Partners now owns 1,201,846 shares of the textile maker’s stock worth $36,068,000 after buying an additional 36,940 shares during the last quarter. Northern Trust Corp increased its position in Skechers USA by 12.8% during the second quarter. Northern Trust Corp now owns 1,183,347 shares of the textile maker’s stock worth $35,512,000 after buying an additional 134,632 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Skechers USA during the second quarter worth $35,425,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SKX opened at $27.00 on Friday. The stock has a wholesale fashion shoes market capitalization of $4.27 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.08 and a beta of 0.39. Skechers USA Inc has a 52-week low of $23.80 and a 52-week high of $43.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 3.43.

Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 18th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.07. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.22 billion. Skechers USA had a return on equity of 13.81% and a net margin of 4.13%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. On average, sell-side analysts predict that Skechers USA Inc will post 1.85 earnings per share for the current year.

In other news, President Michael Greenberg sold 75,630 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $29.28, for a total value of $2,214,446.40. Following the sale, the president now directly owns 593,309 shares of the company’s stock, valued at $17,372,087.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 27.88% of the company’s stock.

Several research firms have commented on SKX. Zacks Investment Research raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Thursday, November 22nd. TheStreet downgraded shares of Skechers USA from a “b-” rating to a “c+” rating in a research report on Wednesday, August 15th. ValuEngine downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. Wells Fargo & Co set a $30.00 target price on shares of Skechers USA and gave the stock a “hold” rating in a research report on Friday, October 19th. Finally, Citigroup lowered their target price on shares of Skechers USA from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Skechers USA presently has an average rating of “Hold” and a consensus price target of $33.37.

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