Schwab Charles Investment Management Inc. Has $19.02 Million Stake in Skechers USA Inc (NYSE:SKX)

Schwab Charles Investment Management Inc. boosted its position in Skechers USA Inc (NYSE:SKX) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 758,198 shares of the textile maker’s stock after buying an additional 46,539 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.48% of Skechers USA worth $19,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Seven Eight Capital LP purchased a new stake in shares of Skechers USA during the second quarter valued at approximately $105,000. Aviance Capital Management LLC purchased a new stake in shares of Skechers USA during the second quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Skechers USA by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after purchasing an additional 503 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Skechers USA by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 335 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Skechers USA during the second quarter valued at approximately $206,000. 70.08% of the stock is owned by institutional investors and hedge funds.

Shares of Skechers USA Inc (SKX) traded down $0.03 during trading on Thursday, hitting $38.69. The company had a trading volume of 863,837 shares, compared to its average volume of 1,629,630. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. The company has a market capitalization of $6,160.00, a P/E ratio of 23.88, a PEG ratio of 1.25 and a beta of 0.14. Skechers USA Inc has a one year low of $22.31 and a one year high of $39.71.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. equities analysts predict that Skechers USA Inc will post 1.7 EPS for the current year.

A number of analysts have recently weighed in on the company. Wedbush reissued a “buy” rating and set a $45.00 price objective (up previously from $39.00) on shares of Skechers USA in a research note on Wednesday, January 3rd. Zacks Investment Research raised Skechers USA from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, January 2nd. Cowen set a $42.00 price objective on Skechers USA and gave the company a “buy” rating in a research note on Monday, December 18th. Argus raised Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Vetr lowered Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price objective for the company. in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $37.96.

In other Skechers USA news, Director Richard Rappaport sold 1,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $38.24, for a total value of $38,240.00. Following the completion of the transaction, the director now owns 19,000 shares in the company, valued at $726,560. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Greenberg sold 180,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $31.72, for a total value of $5,709,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 962,250 shares of company stock valued at $33,823,248. 38.20% of the stock is owned by corporate insiders.

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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.

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

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