HBK Investments L P lifted its stake in shares of Skechers USA Inc (NYSE:SKX) by 139.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,923 shares of the textile maker’s stock after acquiring an additional 162,023 shares during the quarter. HBK Investments L P owned 0.18% of Skechers USA worth $10,517,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in Skechers USA in the fourth quarter valued at $139,000. Advisor Partners LLC purchased a new position in Skechers USA in the fourth quarter valued at $203,000. CIBC Asset Management Inc purchased a new position in Skechers USA in the fourth quarter valued at $202,000. Dearborn Partners LLC purchased a new position in Skechers USA in the fourth quarter valued at $214,000. Finally, Private Advisor Group LLC purchased a new position in Skechers USA in the fourth quarter valued at $222,000. 73.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Robert Greenberg sold 500,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 267,713 shares in the company, valued at $10,082,071.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Rappaport sold 1,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $38.24, for a total transaction of $38,240.00. Following the sale, the director now owns 19,000 shares of the company’s stock, valued at approximately $726,560. The disclosure for this sale can be found here. Insiders sold 501,156 shares of company stock valued at $18,874,792 in the last 90 days. 38.20% of the stock is currently owned by insiders.
Skechers USA Inc (NYSE SKX) opened at $40.93 on Wednesday. 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 12 month low of $22.64 and a 12 month high of $42.73. The stock has a market cap of $6,490.00, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 1.17 and a beta of 0.24.
Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The company had revenue of $970.59 million during the quarter, compared to the consensus estimate of $881.39 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Skechers USA’s revenue for the quarter was up 27.0% on a year-over-year basis. equities research analysts forecast that Skechers USA Inc will post 2.3 EPS for the current fiscal year.
Skechers USA announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 8th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the textile maker to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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.
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