November 30, 2016 - By Pete Kolinski · 0 Comments
Skechers USA Inc (NYSE:SKX) institutional sentiment decreased to 0.92 in Q2 2016. Its down -0.19, from 1.11 in 2016Q1. The ratio turned negative, as 172 investment professionals started new and increased stock positions, while 155 cut down and sold equity positions in Skechers USA Inc. The investment professionals in our partner’s database reported: 102.59 million shares, down from 106.49 million shares in 2016Q1. Also, the number of investment professionals holding Skechers USA Inc in their top 10 stock positions increased from 1 to 3 for an increase of 2. Sold All: 62 Reduced: 93 Increased: 112 New Position: 60.
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 $3.50 billion. The Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. It has a 13.38 P/E ratio. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers.
About 2.37 million shares traded hands. Skechers USA Inc (NYSE:SKX) has declined 36.32% since April 27, 2016 and is downtrending. It has underperformed by 41.54% the S&P500.
According to Zacks Investment Research, “Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. The company sells its products to department stores such as Nordstrom, Macy’s, Dillards, Robinson’s-May and JC Penney and specialty retailers such as Genesco’s Journeys and Jarman chains, The Venator Group’s Foot Locker and Lady Foot Locker chains, Pacific Sunwear and Footaction U.S.A.”
Venator Capital Management Ltd. holds 3.45% of its portfolio in Skechers USA Inc for 137,800 shares. Harvey Capital Management Inc owns 212,200 shares or 3.16% of their US portfolio. Moreover, Buckingham Capital Management Inc has 2.92% invested in the company for 808,627 shares. The New York-based Highline Capital Management L.P. has invested 2.86% in the stock. Rail, a Alabama-based fund reported 399,161 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 4 selling transactions for $3.46 million net activity.
Ratings analysis reveals 57% of Skechers Usa Inc.’s analysts are positive. Out of 14 Wall Street analysts rating Skechers Usa Inc., 8 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $2.50 while the high is $185. The stock’s average target of $58.99 is 156.48% above today’s ($23) share price. SKX was included in 30 notes of analysts from July 22, 2015. The firm earned “Positive” rating on Friday, September 30 by Susquehanna. On Friday, August 12 the stock rating was initiated by Susquehanna with “Neutral”. As per Friday, October 16, the company rating was initiated by BB&T Capital. The company was maintained on Thursday, July 30 by Monness Crespi & Hardt. The rating was downgraded by Susquehanna to “Neutral” on Friday, January 22. The stock of Skechers USA Inc (NYSE:SKX) earned “Buy” rating by B. Riley & Co on Friday, October 23. The company was maintained on Tuesday, August 23 by Citigroup. Argus Research initiated Skechers USA Inc (NYSE:SKX) rating on Tuesday, October 13. Argus Research has “Buy” rating and $155 price target. B. Riley & Co maintained the stock with “Buy” rating in Thursday, July 30 report. Sterne Agee CRT maintained the stock with “Buy” rating in Sunday, September 6 report.
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: Fool.com, which released: “Better Buy: Nike Inc. or Skechers USA Inc?” on October 13, 2016. Fool.com‘s article titled: “Why Now Is the Right Time to Buy Skechers USA Inc” and published on September 24, 2016 is yet another important article.
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By Pete Kolinski