The Advisors Asset Management Inc. Sold shares of Skechers USA Inc. (SKX)

The Advisors Asset Management Inc. Sold shares of Skechers USA Inc. (SKX)

Advisors Asset Management Inc. reduced its position in Skechers USA Inc. (NYSE:SKX) by 49.0% during the second quarter, Holdings Channel reports. The firm owned 3,500 shares of the company’s stock after selling 3,364 shares during the period. Advisors Asset Management Inc.’s holdings in Skechers USA were worth $104,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC increased its stake in Skechers USA by 0.7% in the second quarter. Capital Analysts LLC now owns 20,638 shares of the company’s stock worth $613,000 after buying an additional 148 shares during the period. Boston Advisors LLC boosted its position in Skechers USA by 0.5% in the second quarter. Boston Advisors LLC now owns 44,585 shares of the company’s stock valued at $1,325,000 after buying an additional 205 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Skechers USA by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 31,113 shares of the company’s stock valued at $925,000 after buying an additional 244 shares in the last quarter. Rathbone Brothers plc boosted its position in Skechers USA by 1.9% in the second quarter. Rathbone Brothers plc now owns 28,105 shares of the company’s stock valued at $835,000 after buying an additional 515 shares in the last quarter. Finally, IBM Retirement Fund boosted its position in Skechers USA by 6.7% in the second quarter. IBM Retirement Fund now owns 13,163 shares of the company’s stock valued at $391,000 after buying an additional 832 shares in the last quarter. Hedge funds and other institutional investors own 65.70% of the company’s stock.

Shares of Skechers USA Inc. (NYSE:SKX) traded up 0.13% during midday trading on Friday, reaching $22.90. 1,721,688 shares of the company were exchanged. The stock has a 50-day moving average price of $23.50 and a 200 day moving average price of $27.80. Skechers USA Inc. has a 52-week low of $20.90 and a 52-week high of $49.28. The company has a market capitalization of $3.62 billion, a P/E ratio of 13.23 and a beta of 0.15.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by $0.02. The company had revenue of $877.80 million for the quarter, compared to the consensus estimate of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same period in the previous year, the firm posted $0.52 EPS. Equities research analysts expect that Skechers USA Inc. will post $1.80 EPS for the current fiscal year.

Several research firms have issued reports on SKX. B. Riley reaffirmed a “buy” rating and issued a $42.00 price target on shares of Skechers USA in a report on Tuesday, July 19th. Monness Crespi & Hardt cut Skechers USA from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Standpoint Research began coverage on Skechers USA in a report on Monday, October 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Susquehanna began coverage on Skechers USA in a report on Friday, August 12th. They issued a “neutral” rating and a $27.00 price target on the stock. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $30.34.

In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $24.12, for a total value of $33,502.68. Following the completion of the sale, the general counsel now owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.73% of the company’s stock.

Skechers USA 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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