Northwestern Mutual Investment Management Company LLC increased its position in shares of Skechers USA Inc. (NYSE:SKX) by 1.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,944 shares of the company’s stock after buying an additional 399 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Skechers USA were worth $682,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Mason Street Advisors LLC bought a new stake in shares of Skechers USA during the second quarter worth $1,801,000. CI Investments Inc. bought a new stake in shares of Skechers USA during the second quarter worth $16,174,000. Public Employees Retirement System of Ohio boosted its stake in shares of Skechers USA by 2.9% in the second quarter. Public Employees Retirement System of Ohio now owns 51,588 shares of the company’s stock worth $1,533,000 after buying an additional 1,456 shares in the last quarter. Lebenthal Holdings LLC boosted its stake in shares of Skechers USA by 14.9% in the second quarter. Lebenthal Holdings LLC now owns 52,575 shares of the company’s stock worth $1,562,000 after buying an additional 6,837 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Skechers USA by 39.1% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 10,403 shares of the company’s stock worth $309,000 after buying an additional 2,923 shares in the last quarter. Institutional investors and hedge funds own 63.20% of the company’s stock.
Skechers USA Inc. (NYSE:SKX) traded down 2.55% during trading on Friday, reaching $22.14. The company’s stock had a trading volume of 1,176,741 shares. The stock’s 50 day moving average is $21.58 and its 200-day moving average is $25.62. The firm has a market cap of $3.50 billion, a P/E ratio of 12.86 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 issued its quarterly earnings results on Thursday, October 20th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.04. Skechers USA had a net margin of 7.56% and a return on equity of 17.44%. The firm had revenue of $942.40 million for the quarter, compared to analyst estimates of $954.38 million. During the same period last year, the company earned $0.43 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Skechers USA Inc. will post $1.63 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Vetr cut shares of Skechers USA from a “strong-buy” rating to a “buy” rating and set a $24.59 price objective on the stock. in a research note on Tuesday, November 15th. B. Riley reiterated a “neutral” rating and issued a $24.00 price target on shares of Skechers USA in a research report on Tuesday, November 8th. Standpoint Research reiterated a “buy” rating on shares of Skechers USA in a research report on Monday, November 7th. Wedbush began coverage on shares of Skechers USA in a research report on Tuesday, November 1st. They issued a “neutral” rating and a $23.00 price target on the stock. Finally, Cowen and Company reiterated a “hold” rating on shares of Skechers USA in a research report on Friday, October 21st. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.41.
In other news, President Michael Greenberg sold 150,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $8,266,553.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.