Skechers U.S.A., Inc. (NYSE:SKX) Short Interest Up 28.5% in June

Skechers U.S.A., Inc. (NYSE:SKX) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,430,000 shares, a growth of 28.5% from the May 31st total of 2,670,000 shares. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.6% of the company’s shares are short sold.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the sale, the general counsel now owns 35,000 shares of the company’s stock, valued at $2,430,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 24.75% of the company’s stock.

Institutional Investors Weigh In On Skechers U.S.A.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Skechers U.S.A. by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock valued at $779,491,000 after buying an additional 97,666 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of Skechers U.S.A. by 3.5% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,893,529 shares of the textile maker’s stock valued at $180,383,000 after purchasing an additional 98,068 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Skechers U.S.A. by 6,521.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after purchasing an additional 1,434,601 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Skechers U.S.A. by 72.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock valued at $64,185,000 after purchasing an additional 552,452 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Skechers U.S.A. by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,269,306 shares of the textile maker’s stock valued at $79,129,000 after purchasing an additional 16,146 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Down 2.3 %

NYSE:SKX opened at $67.52 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.30 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.99 and a beta of 1.25. The firm’s 50 day moving average is $68.94 and its 200 day moving average is $63.62. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $75.09.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly 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. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. Skechers U.S.A.’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. Sell-side analysts expect that Skechers U.S.A. will post 4.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SKX shares. Wells Fargo & Company started coverage on shares of Skechers U.S.A. in a research report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $82.00 target price on shares of Skechers U.S.A. in a report on Thursday, June 13th. Wedbush restated an “outperform” rating and issued a $76.00 target price on shares of Skechers U.S.A. in a report on Friday, May 17th. TD Cowen upped their target price on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Evercore ISI lowered their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.