Blueshift Asset Management LLC purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 20,453 shares of the textile maker's stock, valued at approximately $1,369,000.
Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker's stock valued at $25,000 after purchasing an additional 164 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after buying an additional 364 shares in the last quarter. Versant Capital Management Inc boosted its position in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker's stock worth $44,000 after acquiring an additional 618 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after acquiring an additional 299 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock worth $69,000 after purchasing an additional 887 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.
Skechers U.S.A. Stock Performance
NYSE:SKX opened at $62.96 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A., Inc. has a 12 month low of $55.51 and a 12 month high of $75.09. The firm has a market capitalization of $9.51 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.23. The business's fifty day moving average price is $63.42 and its 200 day moving average price is $66.17.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Skechers U.S.A.'s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SKX shares. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday. TD Cowen dropped their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Morgan Stanley upped their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Finally, Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Moderate Buy" and an average price target of $78.09.
Check Out Our Latest Analysis on Skechers U.S.A.
About Skechers U.S.A.
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Skechers U.S.A., you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Skechers U.S.A. wasn't on the list.
While Skechers U.S.A. currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
