The stock of Skechers USA Inc (NYSE:SKX) is a huge mover today! About 678,247 shares traded hands. Skechers USA Inc (NYSE:SKX) has declined 18.47% since April 11, 2016 and is downtrending. It has underperformed by 24.61% the S&P500.
The move comes after 9 months positive chart setup for the $3.43B company. It was reported on Nov, 11 by Barchart.com. We have $27.55 PT which if reached, will make NYSE:SKX worth $960.40M more.
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 firm has “Outperform” rating given on Thursday, April 7 by Macquarie Research. Susquehanna initiated Skechers USA Inc (NYSE:SKX) on Friday, August 12 with “Neutral” rating. The company was initiated on Wednesday, November 2 by Wedbush. Susquehanna upgraded the shares of SKX in a report on Friday, September 30 to “Positive” rating. The stock has “Buy” rating given by B. Riley & Co on Thursday, July 30. Standpoint Research initiated Skechers USA Inc (NYSE:SKX) on Monday, October 3 with “Buy” rating. Sterne Agee CRT maintained it with “Buy” rating and $185 target price in Sunday, September 6 report. The stock has “Buy” rating given by BB&T Capital on Friday, October 16. Argus Research initiated the shares of SKX in a report on Tuesday, October 13 with “Buy” rating. Susquehanna downgraded Skechers USA Inc (NYSE:SKX) on Friday, January 22 to “Neutral” rating.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.11 in Q2 2016. Its down 0.03, from 1.14 in 2016Q1. The ratio dropped, 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.
Cibc World Markets Incorporated has invested 0% of its portfolio in Skechers USA Inc (NYSE:SKX). Moreover, Wells Fargo Communication Mn has 0% invested in Skechers USA Inc (NYSE:SKX) for 383,629 shares. Swiss State Bank holds 0.01% or 217,400 shares in its portfolio. The California-based Phocas Financial Corporation has invested 0.28% in Skechers USA Inc (NYSE:SKX). Invesco Limited holds 0.03% or 2.50M shares in its portfolio. Tiaa Cref Inv Mgmt Lc has invested 0.01% of its portfolio in Skechers USA Inc (NYSE:SKX). Meeder Asset Mgmt owns 3,592 shares or 0.01% of their US portfolio. Ladenburg Thalmann Svcs Incorporated holds 21,386 shares or 0.01% of its portfolio. Mckinley Cap Mgmt Ltd Liability Corporation Delaware has 86,272 shares for 0.12% of their US portfolio. Shelton Mgmt holds 11,700 shares or 0.03% of its portfolio. Pinebridge Investments Ltd Partnership owns 164,929 shares or 0.25% of their US portfolio. Moreover, Monetary Mgmt Gp Inc has 0.02% invested in Skechers USA Inc (NYSE:SKX) for 1,100 shares. First Quadrant Lp Ca last reported 0% of its portfolio in the stock. Envestnet Asset, a Illinois-based fund reported 26,525 shares. Moreover, Scout has 0.94% invested in Skechers USA Inc (NYSE:SKX) for 1.13M shares.
Insider Transactions: Since May 13, 2016, the stock had 0 buys, and 6 insider sales for $4.11 million net activity. 150,000 shares with value of $3.09 million were sold by GREENBERG MICHAEL on Wednesday, November 2. GREENBERG JEFFREY also sold $313,581 worth of Skechers USA Inc (NYSE:SKX) shares. Another trade for 3,500 shares valued at $105,815 was made by PACCIONE PHILLIP on Thursday, May 26. On Friday, May 13 the insider GREENBERG ROBERT sold $9.43M. 9,055 shares were sold by NASON MARK A, worth $271,650.
More recent Skechers USA Inc (NYSE:SKX) news were published by: Fool.com which released: “Better Buy: Nike Inc. or Skechers USA Inc?” on October 13, 2016. Also Investorplace.com published the news titled: “Why Skechers USA Inc (SKX), AT&T Inc. (T) and Telefonaktiebolaget LM Ericsson …” on October 21, 2016. Nasdaq.com‘s news article titled: “Commit To Buy Skechers USA At $13, Earn 10.8% Using Options” with publication date: November 03, 2016 was also an interesting one.
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.
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