Skechers USA Inc (NYSE:SKX) Position Increased by Washington Capital Management Inc.

Washington Capital Management Inc. raised its holdings in shares of Skechers USA Inc (NYSE:SKX) by 19.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,300 shares of the textile maker’s stock after buying an additional 2,000 shares during the period. Washington Capital Management Inc.’s holdings in Skechers USA were worth $387,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Skechers USA by 1.1% during the first quarter. BlackRock Inc. now owns 11,671,591 shares of the textile maker’s stock worth $392,282,000 after buying an additional 128,330 shares in the last quarter. Boston Partners boosted its holdings in Skechers USA by 5.1% during the first quarter. Boston Partners now owns 2,056,345 shares of the textile maker’s stock worth $69,114,000 after buying an additional 100,685 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Skechers USA by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 1,369,816 shares of the textile maker’s stock worth $31,355,000 after buying an additional 79,002 shares in the last quarter. Intrepid Capital Management Inc. boosted its holdings in Skechers USA by 53.8% during the first quarter. Intrepid Capital Management Inc. now owns 294,110 shares of the textile maker’s stock worth $9,885,000 after buying an additional 102,930 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Skechers USA by 22.0% during the first quarter. California Public Employees Retirement System now owns 260,372 shares of the textile maker’s stock worth $8,751,000 after buying an additional 46,970 shares in the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.

A number of brokerages recently weighed in on SKX. Stifel Nicolaus raised their target price on shares of Skechers USA from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, July 19th. ValuEngine lowered shares of Skechers USA from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Susquehanna Bancshares raised their price objective on shares of Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a research note on Friday, July 19th. Wedbush raised shares of Skechers USA from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $46.00 in a research note on Friday, July 19th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $42.00 price objective (up previously from $35.00) on shares of Skechers USA in a research note on Friday, July 19th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $38.50.

Shares of NYSE:SKX traded down $1.90 during trading on Friday, reaching $29.19. 2,398,404 shares of the company traded hands, compared to its average volume of 2,193,741. The firm has a fifty day simple moving average of $34.63 and a 200 day simple moving average of $32.29. The firm has a market cap of $4.87 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 0.92 and a beta of 0.78. Skechers USA Inc has a 1-year low of $21.45 and a 1-year high of $40.50. The company has a quick ratio of 1.65, a current ratio of 2.51 and a debt-to-equity ratio of 0.43.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, July 18th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. As a group, research analysts anticipate that Skechers USA Inc will post 2.25 EPS for the current year.

In other Skechers USA news, Director Richard Rappaport sold 3,000 shares of Skechers USA stock in a transaction on Friday, June 21st. The shares were sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at approximately $719,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Walsh sold 1,500 shares of Skechers USA stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $39.77, for a total transaction of $59,655.00. Following the sale, the director now directly owns 15,500 shares of the company’s stock, valued at approximately $616,435. The disclosure for this sale can be found here. Insiders have sold a total of 184,500 shares of company stock valued at $7,079,925 in the last three months. Company insiders own 28.08% of the company’s stock.

About Skechers USA

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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