Steelhead Partners adds Skullcandy Inc (SKUL) to its portfolio

Skullcandy Inc (SKUL) : Steelhead Partners added new position in Skullcandy Inc during the most recent quarter end. The investment management firm now holds 57,000 shares of Skullcandy Inc which is valued at $349,980 , the company said in a statement filed on Aug 15, 2016 with the SEC.Skullcandy Inc makes up approximately 0.33% of Steelhead Partners’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management reduced its stake in SKUL by selling 62,622 shares or 10.73% in the most recent quarter. The Hedge Fund company now holds 521,077 shares of SKUL which is valued at $3,199,413. Skullcandy Inc makes up approx 0.01% of Aqr Capital Management’s portfolio. Omers Administration Corp added SKUL to its portfolio by purchasing 124,500 company shares during the most recent quarter which is valued at $764,430. Skullcandy Inc makes up approx 0.02% of Omers Administration Corp’s portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys added SKUL to its portfolio by purchasing 321,990 company shares during the most recent quarter which is valued at $1,977,019. Skullcandy Inc makes up approx 0.04% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Blackrock Fund Advisors reduced its stake in SKUL by selling 503,517 shares or 89.58% in the most recent quarter. The Hedge Fund company now holds 58,554 shares of SKUL which is valued at $359,522. Tower Research Capital (trc) sold out all of its stake in SKUL during the most recent quarter. The investment firm sold 1,902 shares of SKUL which is valued $11,678.

Skullcandy Inc opened for trading at $6.32 and hit $6.33 on the upside on Thursday, eventually ending the session at $6.33, with a gain of 0.16% or 0.01 points. The heightened volatility saw the trading volume jump to 1,09,093 shares. Company has a market cap of $182 M.

On the company’s financial health, Skullcandy Inc reported $-0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.04. The company had revenue of $57.28 million for the quarter, compared to analysts expectations of $56.72 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.04 EPS.

Skullcandy Inc. is a designer marketer and distributer of audio and gaming headphones earbuds speakers and other accessories under the Skullcandy Astro Gaming and 2XL brands. The Company’s products are sold and distributed through a variety of channels in the United States and approximately 80 countries across the world. The Company offers an array of styles and price points and includes audio products and categories such as gaming and sports performance women’s and Wireless offerings as well as partnerships with manufacturers to license its brand. The Company operates in two segments: Domestic and International. The Domestic segment consists of Skullcandy and Astro Gaming product sales to customers in the United States. International segment includes Skullcandy product sales to customers in Europe Asia Canada and Mexico which are served through the Company’s joint venture and other geographic areas outside the United States served by its International operations.

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