Shorts Action: Could Skechers Usa Incorporated (NYSE:SKX) See a Reversal After Less Sellers Came In?

November 16, 2016 - By Pete Kolinski   ·   0 Comments

Shorts Action: Could Skechers Usa Incorporated (NYSE:SKX) See a Reversal After Less Sellers Came In?

The stock of Skechers Usa Incorporated (NYSE:SKX) registered a decrease of 5.8% in short interest. SKX’s total short interest was 10.89 million shares in November as published by FINRA. Its down 5.8% from 11.56 million shares, reported previously. With 2.26 million shares average volume, it will take short sellers 5 days to cover their SKX’s short positions. The short interest to Skechers Usa Incorporated’s float is 8.66%. The stock increased 0.86% or $0.19 during the last trading session, hitting $22.18. Skechers USA Inc (NYSE:SKX) has declined 21.65% since April 14, 2016 and is downtrending. It has underperformed by 26.34% the S&P500.

Skechers U.S.A., 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 has a market cap of $3.55 billion. The Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. It has a 12.91 P/E ratio. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers.

Insitutional Activity: The institutional sentiment decreased to 1.11 in Q2 2016. Its down 0.03, from 1.14 in 2016Q1. The ratio dived, as 62 funds sold all Skechers USA Inc shares owned while 93 reduced positions. 60 funds bought stakes while 112 increased positions. They now own 102.59 million shares or 3.66% less from 106.49 million shares in 2016Q1.
Geneva Ltd Limited Liability Company has invested 0.02% of its portfolio in Skechers USA Inc (NYSE:SKX). Amica Retiree Tru reported 18,264 shares or 0.46% of all its holdings. Buckingham Capital Mngmt reported 808,627 shares or 2.92% of all its holdings. Regent Management holds 0.14% of its portfolio in Skechers USA Inc (NYSE:SKX) for 8,800 shares. Bank & Trust Of Montreal Can owns 496,724 shares or 0.02% of their US portfolio. Point72 Asset Management Limited Partnership accumulated 100 shares or 0% of the stock. Ontario Teachers Pension Plan Board accumulated 7,056 shares or 0% of the stock. Boston Prtn holds 0% or 67,718 shares in its portfolio. State Street has 3.55M shares for 0.01% of their US portfolio. Jefferies Group Ltd, a New York-based fund reported 24,234 shares. Calvert Management Inc holds 0.01% or 6,945 shares in its portfolio. Wells Fargo & Communications Mn reported 383,629 shares or 0% of all its holdings. Suntrust Banks last reported 0.01% of its portfolio in the stock. First Heartland Consultants reported 9,545 shares or 0.03% of all its holdings. Boston Private Wealth Ltd Limited Liability Company has 0.02% invested in the company for 18,010 shares.

Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 6 sales for $4.11 million net activity. $313,581 worth of shares were sold by GREENBERG JEFFREY on Wednesday, June 1. $105,815 worth of Skechers USA Inc (NYSE:SKX) shares were sold by PACCIONE PHILLIP. NASON MARK A sold $271,650 worth of Skechers USA Inc (NYSE:SKX) on Thursday, May 26. The insider GREENBERG MICHAEL sold 150,000 shares worth $3.09 million.

Skechers USA Inc (NYSE:SKX) Ratings Coverage

Out of 14 analysts covering Skechers Usa Inc. (NYSE:SKX), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. Skechers Usa Inc. has been the topic of 30 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Wednesday, September 21. The firm has “Buy” rating given on Monday, October 3 by Standpoint Research. The firm earned “Buy” rating on Friday, October 23 by Monness Crespi & Hardt. The firm has “Neutral” rating by B. Riley & Co given on Thursday, November 3. On Friday, September 30 the stock rating was upgraded by Susquehanna to “Positive”. As per Sunday, September 6, the company rating was maintained by Sterne Agee CRT. The stock of Skechers USA Inc (NYSE:SKX) earned “Neutral” rating by Wedbush on Wednesday, November 2. The stock of Skechers USA Inc (NYSE:SKX) earned “Buy” rating by B. Riley & Co on Thursday, July 30. The rating was downgraded by Citigroup on Friday, October 21 to “Neutral”. BB&T Capital initiated it with “Buy” rating and $150 target price in Friday, October 16 report.

SKX Company Profile

Skechers U.S.A., Inc., incorporated on May 28, 1998, 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 Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers. In addition to wholesale distribution, the Company’s footwear is available at its e-commerce site and its own retail stores. The Firm operates approximately 120 concept stores, over 160 factory outlet stores and over 120 warehouse outlet stores in the United States, and approximately 80 concept stores, over 40 factory outlet stores, and over five warehouse outlet stores internationally.

More news for Skechers USA Inc (NYSE:SKX) were recently published by: Investorplace.com, which released: “Why Skechers USA Inc (SKX), AT&T Inc. (T) and Telefonaktiebolaget LM Ericsson …” on October 21, 2016. Forbes.com‘s article titled: “Skechers USA Enters Oversold Territory (SKX)” and published on October 21, 2016 is yet another important article.

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By Pete Kolinski


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