Stone Ridge Asset Management LLC purchased a new position in Skechers USA Inc (NYSE:SKX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 73,852 shares of the textile maker’s stock, valued at approximately $2,795,000.
Several other large investors also recently modified their holdings of SKX. Tower Research Capital LLC TRC bought a new stake in shares of Skechers USA in the fourth quarter worth $139,000. CIBC Asset Management Inc bought a new stake in shares of Skechers USA in the fourth quarter worth $202,000. Advisor Partners LLC bought a new stake in shares of Skechers USA in the fourth quarter worth $203,000. Dearborn Partners LLC bought a new stake in shares of Skechers USA in the fourth quarter worth $214,000. Finally, Private Advisor Group LLC bought a new stake in shares of Skechers USA in the fourth quarter worth $222,000. Institutional investors and hedge funds own 73.94% of the company’s stock.
In other news, Director Richard Rappaport sold 1,000 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $38.24, for a total transaction of $38,240.00. Following the completion of the transaction, the director now owns 19,000 shares of the company’s stock, valued at $726,560. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 500,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $37.66, for a total transaction of $18,830,000.00. Following the transaction, the chief executive officer now directly owns 267,713 shares of the company’s stock, valued at approximately $10,082,071.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,156 shares of company stock valued at $18,874,792. Corporate insiders own 38.20% of the company’s stock.
Skechers USA Inc (NYSE:SKX) opened at $41.38 on Monday. The company has a market cap of $6,629.70, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.20 and a beta of 0.24. The company has a quick ratio of 2.06, a current ratio of 3.52 and a debt-to-equity ratio of 0.04. Skechers USA Inc has a 1-year low of $22.64 and a 1-year high of $42.73.
Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The firm had revenue of $970.59 million during the quarter, compared to the consensus estimate of $881.39 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The firm’s revenue was up 27.0% on a year-over-year basis. equities analysts forecast that Skechers USA Inc will post 2.3 EPS for the current year.
Skechers USA declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the textile maker to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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About Skechers USA
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.
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