Amalgamated Bank Has $5.62 Million Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank lowered its position in Skechers U.S.A., Inc. (NYSE:SKX) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,352 shares of the textile maker’s stock after selling 234 shares during the quarter. Amalgamated Bank owned approximately 0.05% of Skechers U.S.A. worth $5,623,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in Skechers U.S.A. in the first quarter worth approximately $25,000. Bessemer Group Inc. lifted 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 during the last quarter. Versant Capital Management Inc increased its position in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after buying an additional 618 shares during the last quarter. Game Plan Financial Advisors LLC bought a new position in Skechers U.S.A. during the first quarter valued at about $43,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth about $45,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SKX shares. Barclays upped their target price on Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. TD Cowen upped their price objective on shares of Skechers U.S.A. from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $71.00 to $87.00 in a report on Friday, June 7th. Stifel Nicolaus upped their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. presently has an average rating of “Buy” and an average target price of $78.36.

Skechers U.S.A. Stock Up 2.3 %

SKX opened at $63.00 on Friday. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06. The firm’s 50-day simple moving average is $65.30 and its 200-day simple moving average is $65.33. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09.

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

Skechers U.S.A. announced that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the textile maker to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.