Robecosam AG boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 94.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,163 shares of the company’s stock after buying an additional 48,577 shares during the period. Robecosam AG owned approximately 0.06% of Skechers U.S.A. worth $2,195,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Fiera Capital Corp increased its stake in Skechers U.S.A. by 10,690.6% in the second quarter. Fiera Capital Corp now owns 1,898,281 shares of the company’s stock worth $56,417,000 after buying an additional 1,880,689 shares during the period. Scout Investments Inc. bought a new stake in Skechers U.S.A. during the second quarter worth about $33,603,000. Gotham Asset Management LLC bought a new stake in Skechers U.S.A. during the third quarter worth about $22,416,000. Rothschild Asset Management Inc. bought a new stake in Skechers U.S.A. during the third quarter worth about $22,134,000. Finally, OZ Management LP increased its stake in Skechers U.S.A. by 43.4% in the third quarter. OZ Management LP now owns 2,976,931 shares of the company’s stock worth $68,172,000 after buying an additional 900,423 shares during the period. Institutional investors own 62.19% of the company’s stock.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) traded down 0.22% during midday trading on Wednesday, reaching $22.54. 4,168,568 shares of the company were exchanged. The stock has a market capitalization of $3.56 billion, a P/E ratio of 13.10 and a beta of 0.30. Skechers U.S.A., Inc. has a 12-month low of $18.81 and a 12-month high of $34.27. The company has a 50 day moving average price of $24.73 and a 200-day moving average price of $23.65.
A number of analysts recently issued reports on the stock. B. Riley restated a “neutral” rating and set a $24.00 price objective on shares of Skechers U.S.A. in a report on Tuesday, November 8th. Cowen and Company restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, October 21st. Wells Fargo & Company assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 6th. They set an “outperform” rating and a $31.00 price objective for the company. They noted that the move was a valuation call. Vetr downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $25.17 price objective for the company. in a report on Wednesday, November 30th. Finally, Monness Crespi & Hardt upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Saturday, December 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $28.01.
In related news, Director Richard Rappaport sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $26.13, for a total transaction of $26,130.00. Following the sale, the director now owns 24,000 shares of the company’s stock, valued at $627,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas Walsh sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.64, for a total value of $33,960.00. Following the sale, the director now directly owns 11,500 shares in the company, valued at approximately $260,360. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,500 shares of company stock worth $84,540. 21.73% of the stock is owned by corporate insiders.
About Skechers U.S.A.
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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