Skechers U.S.A., Inc. (NYSE:SKX – Get Free Report) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 3,430,000 shares, an increase of 28.5% from the May 31st total of 2,670,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.6% of the shares of the stock are sold short.
Skechers U.S.A. Trading Down 1.0 %
NYSE SKX opened at $69.12 on Friday. The stock has a market cap of $10.54 billion, a PE ratio of 18.19, a PEG ratio of 1.00 and a beta of 1.28. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $75.09. The company’s 50-day moving average price is $68.94 and its 200-day moving average price is $63.60. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last issued its earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $1.02 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Skechers U.S.A. will post 4.08 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on SKX
Insiders Place Their Bets
In related news, General Counsel Phillip Paccione sold 423 shares of the business’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 sale, the general counsel now directly owns 35,000 shares in the company, valued at $2,430,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.75% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Skechers U.S.A. by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 5,225 shares of the textile maker’s stock valued at $256,000 after buying an additional 381 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Skechers U.S.A. during the 3rd quarter valued at about $219,000. Envestnet Asset Management Inc. raised its holdings in shares of Skechers U.S.A. by 56.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock valued at $4,720,000 after purchasing an additional 34,926 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Skechers U.S.A. by 34.6% in the 3rd quarter. Natixis Advisors L.P. now owns 89,367 shares of the textile maker’s stock worth $4,374,000 after purchasing an additional 22,948 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Skechers U.S.A. by 43.0% during the third quarter. Tower Research Capital LLC TRC now owns 18,729 shares of the textile maker’s stock valued at $917,000 after purchasing an additional 5,633 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
About Skechers U.S.A.
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.
Recommended Stories
- Five stocks we like better than Skechers U.S.A.
- Buy P&G Now, Before It Sets A New All-Time High
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- MarketBeat Week in Review – 6/24 – 6/28
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- General Mills Stock Drops After Revenue Miss in Fiscal Q4 2024
Receive News & Ratings for Skechers U.S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. and related companies with MarketBeat.com's FREE daily email newsletter.