SG Americas Securities LLC Buys 6,876 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

SG Americas Securities LLC lifted its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 93.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,266 shares of the textile maker’s stock after purchasing an additional 6,876 shares during the period. SG Americas Securities LLC’s holdings in Skechers U.S.A. were worth $810,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SKX. Norges Bank bought a new position in Skechers U.S.A. during the fourth quarter worth about $105,741,000. Duquesne Family Office LLC bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $72,272,000. Two Sigma Investments LP grew its position in shares of Skechers U.S.A. by 772.7% in the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock valued at $79,107,000 after purchasing an additional 1,041,677 shares during the period. Anomaly Capital Management LP grew its position in shares of Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after purchasing an additional 1,011,815 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.0%

Shares of NYSE:SKX opened at $62.44 on Friday. The firm has a market capitalization of $9.34 billion, a P/E ratio of 15.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The stock has a 50 day moving average price of $57.66 and a 200-day moving average price of $62.12. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $1.33 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SKX shares. UBS Group reiterated a “neutral” rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Evercore ISI decreased their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company lifted their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They set a “sell” rating for the company. Finally, Raymond James Financial lowered shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.69.

About Skechers U.S.A.

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.