SG Americas Securities LLC increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 27.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,182 shares of the textile maker’s stock after purchasing an additional 6,228 shares during the quarter. SG Americas Securities LLC’s holdings in Skechers U.S.A. were worth $1,135,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Deutsche Bank AG lifted its holdings in Skechers U.S.A. by 30.6% in the 4th quarter. Deutsche Bank AG now owns 1,128,601 shares of the textile maker’s stock worth $42,702,000 after purchasing an additional 264,497 shares during the last quarter. Bank of Montreal Can lifted its holdings in Skechers U.S.A. by 3,831.3% in the 4th quarter. Bank of Montreal Can now owns 255,967 shares of the textile maker’s stock worth $9,685,000 after purchasing an additional 249,456 shares during the last quarter. Boston Partners lifted its holdings in Skechers U.S.A. by 9.1% in the 4th quarter. Boston Partners now owns 1,750,404 shares of the textile maker’s stock worth $66,235,000 after purchasing an additional 145,698 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Skechers U.S.A. in the 4th quarter worth approximately $1,616,000. Finally, Advisor Partners LLC acquired a new stake in Skechers U.S.A. in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 72.78% of the company’s stock.
Shares of Skechers U.S.A. opened at $30.19 on Thursday, MarketBeat Ratings reports. Skechers U.S.A., Inc. has a 12 month low of $23.21 and a 12 month high of $43.08. The company has a market cap of $4.87 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.82 and a beta of 0.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.40 and a quick ratio of 2.21.
Skechers U.S.A. declared that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Several equities research analysts recently weighed in on SKX shares. ValuEngine upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, February 12th. Citigroup boosted their target price on Skechers U.S.A. from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Monness Crespi & Hardt boosted their target price on Skechers U.S.A. from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, B. Riley set a $50.00 target price on Skechers U.S.A. and gave the stock a “buy” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.40.
In related news, COO David Weinberg sold 25,210 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $28.12, for a total value of $708,905.20. Following the completion of the transaction, the chief operating officer now directly owns 428,214 shares in the company, valued at $12,041,377.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 37,814 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $40.34, for a total value of $1,525,416.76. Following the completion of the transaction, the chief executive officer now owns 704,397 shares of the company’s stock, valued at $28,415,374.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,496 shares of company stock valued at $4,512,908. Corporate insiders own 27.88% of the company’s stock.
About Skechers U.S.A.
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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