Advisors Asset Management Inc. Purchases Shares of 3,280 Skechers U.S.A., Inc. $SKX

Advisors Asset Management Inc. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,280 shares of the textile maker’s stock, valued at approximately $186,000.

A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. grew 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 worth $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock worth $79,107,000 after buying an additional 1,041,677 shares during the period. Two Sigma Advisers LP grew its position in shares of Skechers U.S.A. by 381.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker’s stock worth $72,740,000 after buying an additional 856,900 shares during the period. Nuveen LLC acquired a new stake in shares of Skechers U.S.A. during the 1st quarter worth approximately $34,525,000. Finally, Dimensional Fund Advisors LP boosted its stake in Skechers U.S.A. by 26.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker’s stock worth $158,739,000 after acquiring an additional 583,733 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SKX. Argus lowered shares of 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 Tuesday, August 26th. Wall Street Zen upgraded shares of Skechers U.S.A. to a “hold” rating in a report on Saturday, August 30th. TD Cowen downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a report on Wednesday, May 28th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Finally, Zacks Research upgraded shares of Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.46.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $63.18 on Friday. The company has a market capitalization of $9.49 billion, a PE ratio of 14.42 and a beta of 1.19. The company has a 50 day simple moving average of $63.10 and a two-hundred day simple moving average of $59.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current 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.