Trade Report: Today, Great West Life Assurance Co. Can Raises its position in Skechers USA Inc. (SKX) as a favorable investment target.

Today, Great West Life Assurance Co. Can Raises its position in Skechers USA Inc. (SKX) as a favorable investment target.

Great West Life Assurance Co. Can increased its position in shares of Skechers USA Inc. (NYSE:SKX) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 78,658 shares of the company’s stock after buying an additional 2,553 shares during the period. Great West Life Assurance Co. Can’s holdings in Skechers USA were worth $1,800,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Glenmede Trust Co. NA bought a new stake in shares of Skechers USA during the second quarter worth approximately $117,000. MSI Financial Services Inc boosted its stake in shares of Skechers USA by 36.6% in the third quarter. MSI Financial Services Inc now owns 6,210 shares of the company’s stock worth $143,000 after buying an additional 1,665 shares during the period. US Bancorp DE boosted its stake in shares of Skechers USA by 45.7% in the second quarter. US Bancorp DE now owns 5,211 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Skechers USA by 20.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,442 shares of the company’s stock worth $192,000 after buying an additional 1,079 shares during the period. Finally, Ancora Advisors LLC bought a new stake in shares of Skechers USA during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 61.06% of the company’s stock.

Shares of Skechers USA Inc. (NYSE:SKX) traded up 0.63% during mid-day trading on Monday, hitting $22.28. The stock had a trading volume of 2,347,803 shares. The stock has a 50-day moving average price of $21.56 and a 200 day moving average price of $25.47. The stock has a market cap of $3.52 billion, a P/E ratio of 12.95 and a beta of 0.27. Skechers USA Inc. has a 52 week low of $18.81 and a 52 week high of $34.27.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.04. Skechers USA had a return on equity of 17.44% and a net margin of 7.56%. The firm had revenue of $942.40 million for the quarter, compared to analysts’ expectations of $954.38 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts forecast that Skechers USA Inc. will post $1.63 EPS for the current fiscal year.

SKX has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $24.00 price target on shares of Skechers USA in a research note on Friday, October 21st. Vetr lowered Skechers USA from a “strong-buy” rating to a “buy” rating and set a $25.25 price target on the stock. in a research note on Wednesday, October 19th. Standpoint Research initiated coverage on Skechers USA in a research note on Monday, October 3rd. They set a “buy” rating and a $30.00 price target on the stock. Citigroup Inc. reissued a “buy” rating and set a $38.00 price target on shares of Skechers USA in a research note on Tuesday, August 23rd. Finally, Morgan Stanley lowered Skechers USA from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $41.00 to $25.00 in a research note on Wednesday, September 21st. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Skechers USA presently has a consensus rating of “Buy” and a consensus target price of $27.04.

In other Skechers USA news, Director Thomas Walsh sold 1,500 shares of Skechers USA stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $22.64, for a total transaction of $33,960.00. Following the transaction, the director now directly owns 11,500 shares in the company, valued at approximately $260,360. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael Greenberg sold 150,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $20.58, for a total transaction of $3,087,000.00. Following the transaction, the president now owns 401,679 shares in the company, valued at $8,266,553.82. The disclosure for this sale can be found here. Company 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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