Sciencast Management LP Invests $447,000 in Skechers USA Inc (NYSE:SKX)

Sciencast Management LP acquired a new position in shares of Skechers USA Inc (NYSE:SKX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,000 shares of the textile maker’s stock, valued at approximately $447,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKX. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Skechers USA by 37.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,213 shares of the textile maker’s stock valued at $477,000 after acquiring an additional 4,105 shares in the last quarter. Absher Wealth Management LLC boosted its holdings in Skechers USA by 4.3% in the 2nd quarter. Absher Wealth Management LLC now owns 21,643 shares of the textile maker’s stock valued at $679,000 after purchasing an additional 888 shares during the period. Broad Peak Investment Holdings Ltd. acquired a new position in shares of Skechers USA during the 2nd quarter worth approximately $39,004,000. Dupont Capital Management Corp grew its position in shares of Skechers USA by 112.2% during the 2nd quarter. Dupont Capital Management Corp now owns 14,845 shares of the textile maker’s stock worth $466,000 after purchasing an additional 7,849 shares in the last quarter. Finally, World Asset Management Inc bought a new position in shares of Skechers USA during the second quarter worth approximately $235,000. 76.18% of the stock is owned by institutional investors.

In other news, EVP Mark A. Nason sold 11,922 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.79, for a total value of $379,000.38. Following the completion of the transaction, the executive vice president now directly owns 73,752 shares in the company, valued at approximately $2,344,576.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 50,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $26.19, for a total value of $1,309,500.00. Following the sale, the chief executive officer now directly owns 600,000 shares in the company, valued at approximately $15,714,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,052 shares of company stock worth $3,086,092. Insiders own 28.08% of the company’s stock.

Shares of NYSE SKX opened at $29.28 on Friday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 28.99 and a beta of 1.22. The company has a current ratio of 2.91, a quick ratio of 1.96 and a debt-to-equity ratio of 0.73. Skechers USA Inc has a 12 month low of $17.06 and a 12 month high of $44.50. The stock has a 50-day moving average price of $30.16 and a two-hundred day moving average price of $30.84.

Skechers USA (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 23rd. The textile maker reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.23. The company had revenue of $729.47 million for the quarter, compared to analyst estimates of $676.69 million. Skechers USA had a net margin of 3.08% and a return on equity of 6.24%. On average, sell-side analysts predict that Skechers USA Inc will post 0.47 earnings per share for the current year.

A number of equities research analysts recently issued reports on SKX shares. Wedbush increased their price target on Skechers USA from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Morgan Stanley raised their price target on Skechers USA from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. B. Riley boosted their price target on Skechers USA from $37.00 to $39.00 in a research note on Friday, July 24th. Monness Crespi & Hardt reiterated a “buy” rating and set a $40.00 price objective on shares of Skechers USA in a research note on Monday, July 20th. Finally, UBS Group decreased their target price on shares of Skechers USA from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $38.68.

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 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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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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