FNY Investment Advisers LLC Takes $33,000 Position in Skechers USA Inc (SKX)

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FNY Investment Advisers LLC acquired a new position in shares of Skechers USA Inc (NYSE:SKX) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,000 shares of the textile maker’s stock, valued at approximately $33,000.

A number of other hedge funds have also recently modified their holdings of SKX. Bank of New York Mellon Corp raised its holdings in shares of Skechers USA by 335.3% in the third quarter. Bank of New York Mellon Corp now owns 6,604,345 shares of the textile maker’s stock worth $184,459,000 after acquiring an additional 5,087,296 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Skechers USA in the fourth quarter worth $56,133,000. Norges Bank acquired a new position in shares of Skechers USA in the fourth quarter worth $29,796,000. Oregon Public Employees Retirement Fund increased its stake in Skechers USA by 2,192.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 1,179,958 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Skechers USA in the third quarter valued at $30,230,000. 76.86% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Robert Greenberg sold 50,420 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $34.09, for a total value of $1,718,817.80. Following the completion of the sale, the chief executive officer now owns 700,420 shares of the company’s stock, valued at $23,877,317.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Greenberg sold 29,769 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $35.00, for a total value of $1,041,915.00. The disclosure for this sale can be found here. Insiders sold 524,877 shares of company stock valued at $17,733,801 in the last ninety days. Company insiders own 28.08% of the company’s stock.

Shares of NYSE SKX opened at $31.60 on Monday. Skechers USA Inc has a 1-year low of $21.45 and a 1-year high of $42.58. The company has a quick ratio of 1.89, a current ratio of 2.91 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $4.98 billion, a PE ratio of 16.46, a P/E/G ratio of 2.21 and a beta of 0.62.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, April 18th. The textile maker reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). Skechers USA had a return on equity of 13.69% and a net margin of 6.26%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.75 EPS. Skechers USA’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Skechers USA Inc will post 2.04 EPS for the current fiscal year.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Cfra downgraded Skechers USA from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Morgan Stanley set a $29.00 price target on Skechers USA and gave the company a “hold” rating in a research report on Friday, February 8th. ValuEngine downgraded Skechers USA from a “hold” rating to a “sell” rating in a research report on Saturday, January 5th. Finally, Cowen reissued a “hold” rating and set a $34.00 price target on shares of Skechers USA in a research report on Tuesday, February 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.33.

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

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