Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Armistice Capital LLC

Armistice Capital LLC boosted its position in Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 82.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,986 shares of the textile maker’s stock after purchasing an additional 86,057 shares during the period. Armistice Capital LLC’s holdings in Skechers U.S.A. were worth $11,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank grew its holdings in Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after acquiring an additional 517 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Skechers U.S.A. in the 3rd quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $36,000. Tradition Wealth Management LLC bought a new stake in Skechers U.S.A. during the fourth quarter worth approximately $56,000. Finally, Planned Solutions Inc. acquired a new position in Skechers U.S.A. in the fourth quarter worth approximately $70,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

SKX has been the subject of several research reports. Stifel Nicolaus raised their price objective on Skechers U.S.A. from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. TD Cowen increased their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI decreased their price target on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Bank of America assumed coverage on Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $76.00 price target on shares of Skechers U.S.A. in a research report on Friday, May 17th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.75.

View Our Latest Research Report on SKX

Skechers U.S.A. Stock Up 0.8 %

Shares of SKX traded up $0.59 during midday trading on Wednesday, reaching $70.18. 378,395 shares of the stock were exchanged, compared to its average volume of 1,637,657. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $72.27. The firm has a 50 day simple moving average of $63.81 and a 200-day simple moving average of $61.81. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.23 and a beta of 1.28.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business earned $1.02 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Research analysts forecast that Skechers U.S.A., Inc. will post 4.06 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the transaction, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 25,282 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,544,983.02. Following the completion of the transaction, the president now directly owns 123,441 shares in the company, valued at $7,543,479.51. The disclosure for this sale can be found here. Insiders sold 81,914 shares of company stock valued at $5,005,765 in the last three months. Corporate insiders own 24.75% of the company’s stock.

About Skechers U.S.A.

(Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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