Aptus Capital Advisors LLC Has $2.24 Million Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Aptus Capital Advisors LLC lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,328 shares of the textile maker’s stock after selling 10,756 shares during the period. Aptus Capital Advisors LLC’s holdings in Skechers U.S.A. were worth $2,235,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $25,000. Bessemer Group Inc. boosted its stake in shares of Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at $36,000. Versant Capital Management Inc boosted its stake in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 618 shares in the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $68.48 on Monday. The stock has a market capitalization of $10.43 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.95 and a beta of 1.25. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $75.09. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $66.02 and a two-hundred day moving average price of $64.72.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Equities analysts predict that Skechers U.S.A., Inc. will post 4.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SKX. Evercore ISI lifted their price target on Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Morgan Stanley raised Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $80.00 in a report on Tuesday, July 23rd. TD Cowen lifted their price target on Skechers U.S.A. from $77.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wedbush lifted their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company began coverage on Skechers U.S.A. in a report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price target for the company. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. has a consensus rating of “Buy” and a consensus target price of $76.75.

Insider Activity

In other news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now directly owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.