Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers trimmed its position in Skechers U.S.A., Inc. (NYSE:SKX) by 67.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,723 shares of the textile maker’s stock after selling 22,443 shares during the quarter. Cetera Investment Advisers’ holdings in Skechers U.S.A. were worth $609,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after purchasing an additional 190 shares during the period. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. during the fourth quarter worth $32,000. Parallel Advisors LLC grew its stake in shares of Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after buying an additional 399 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at $35,000. Finally, Abound Financial LLC purchased a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group reaffirmed a “neutral” rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Wall Street Zen assumed coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a “sell” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.75.

Skechers U.S.A. Trading Down 0.0%

Skechers U.S.A. stock opened at $63.00 on Friday. The stock has a 50-day moving average price of $62.96 and a 200 day moving average price of $60.16. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a market cap of $9.42 billion, a PE ratio of 14.38 and a beta of 1.16. The company has a current ratio of 2.09, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.27. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Skechers U.S.A. 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.