Vident Advisory LLC Increases Holdings in Skechers U.S.A., Inc. $SKX

Vident Advisory LLC raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,758 shares of the textile maker’s stock after acquiring an additional 1,447 shares during the quarter. Vident Advisory LLC’s holdings in Skechers U.S.A. were worth $327,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Skechers U.S.A. by 15,774.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker’s stock valued at $224,272,000 after acquiring an additional 3,924,962 shares in the last quarter. Fiduciary Management Inc. WI boosted its position in shares of Skechers U.S.A. by 12.9% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,833,785 shares of the textile maker’s stock worth $160,902,000 after purchasing an additional 324,007 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Skechers U.S.A. by 26.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker’s stock worth $158,739,000 after purchasing an additional 583,733 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Skechers U.S.A. by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker’s stock worth $140,984,000 after purchasing an additional 174,697 shares in the last quarter. Finally, Two Sigma Investments LP boosted 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 worth $79,107,000 after purchasing an additional 1,041,677 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Up 0.0%

Shares of SKX stock opened at $63.24 on Tuesday. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $63.11 and its 200-day moving average price is $59.40. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 14.44 and a beta of 1.19.

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

Wall Street Analyst Weigh In

Several analysts have commented on SKX shares. Argus downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research note on Tuesday, August 26th. Zacks Research upgraded Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. TD Cowen downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research note on Wednesday, May 28th. Wall Street Zen raised Skechers U.S.A. to a “hold” rating in a report on Saturday, August 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Hold” and a consensus target price of $66.46.

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.