BNP Paribas Arbitrage SA lessened its holdings in Skechers USA Inc (NYSE:SKX) by 35.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,783 shares of the textile maker’s stock after selling 13,447 shares during the period. BNP Paribas Arbitrage SA’s holdings in Skechers USA were worth $964,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Deutsche Bank AG lifted its stake in shares of Skechers USA 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 period. Quadrature Capital Ltd bought a new position in shares of Skechers USA in the 4th quarter worth approximately $1,616,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Skechers USA by 51.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,952 shares of the textile maker’s stock worth $263,000 after purchasing an additional 2,358 shares during the period. Capital Fund Management S.A. bought a new position in shares of Skechers USA in the 4th quarter worth approximately $7,041,000. Finally, ARP Americas LP bought a new position in shares of Skechers USA in the 4th quarter worth approximately $341,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.
SKX has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Skechers USA in a research note on Wednesday, April 18th. They set a “buy” rating and a $50.00 target price on the stock. Buckingham Research restated a “buy” rating and set a $48.00 target price on shares of Skechers USA in a research note on Wednesday, April 18th. B. Riley set a $50.00 target price on shares of Skechers USA and gave the stock a “buy” rating in a research note on Tuesday, April 17th. Wedbush cut shares of Skechers USA from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $46.00 to $34.00 in a research note on Friday, April 20th. Finally, Monness Crespi & Hardt decreased their target price on shares of Skechers USA from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.31.
Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, April 19th. The textile maker reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Skechers USA had a net margin of 4.67% and a return on equity of 15.30%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. analysts anticipate that Skechers USA Inc will post 2.06 earnings per share for the current fiscal year.
In other news, General Counsel Phillip Paccione sold 17,432 shares of Skechers USA stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $38.04, for a total transaction of $663,113.28. Following the sale, the general counsel now owns 47,432 shares in the company, valued at $1,804,313.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David Weinberg sold 25,210 shares of Skechers USA stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $28.12, for a total transaction of $708,905.20. Following the sale, the chief operating officer now owns 428,214 shares in the company, valued at approximately $12,041,377.68. The disclosure for this sale can be found here. Company insiders own 27.88% of the company’s stock.
Skechers USA Company Profile
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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