IFP Advisors Inc Has $149,000 Stake in Skechers U.S.A., Inc. (NYSE:SKX)

IFP Advisors Inc lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 219.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,632 shares of the textile maker’s stock after purchasing an additional 1,807 shares during the quarter. IFP Advisors Inc’s holdings in Skechers U.S.A. were worth $149,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Skechers U.S.A. by 15,774.3% during the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker’s stock worth $224,272,000 after purchasing an additional 3,924,962 shares during the last quarter. 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 boosted its stake in 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 worth $79,107,000 after purchasing an additional 1,041,677 shares during the period. Finally, Anomaly Capital Management LP lifted its stake in 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 acquiring an additional 1,011,815 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on SKX shares. Wells Fargo & Company boosted their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. TD Cowen lowered Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. Evercore ISI reduced their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Barclays reaffirmed an “equal weight” rating and issued a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.75.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $63.10 on Tuesday. The company has a market capitalization of $9.44 billion, a PE ratio of 15.17 and a beta of 1.12. The firm has a fifty day simple moving average of $62.68 and a 200 day simple moving average of $60.93. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

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.