Maverick Capital Ltd. trimmed its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 72.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,336 shares of the textile maker's stock after selling 19,761 shares during the quarter. Maverick Capital Ltd.'s holdings in Skechers U.S.A. were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in SKX. UMB Bank n.a. boosted its holdings in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after buying an additional 364 shares during the period. Versant Capital Management Inc boosted its holdings 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 valued at $44,000 after acquiring an additional 618 shares during the period. Venturi Wealth Management LLC boosted its holdings in Skechers U.S.A. by 52.9% during the third 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 during the period. Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. in the third quarter valued at about $67,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Skechers U.S.A. in the second quarter worth about $69,000. Institutional investors own 79.96% of the company's stock.
Skechers U.S.A. Price Performance
NYSE SKX traded up $1.84 on Monday, reaching $65.66. The company's stock had a trading volume of 3,081,212 shares, compared to its average volume of 1,878,559. The firm has a market cap of $9.91 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.23. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. The business has a 50-day moving average price of $63.44 and a 200 day moving average price of $66.04.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.'s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 EPS. Sell-side analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on SKX shares. Morgan Stanley raised their target price 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. Barclays raised their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, October 25th. TD Cowen decreased their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Needham & Company LLC started 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 given a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and an average price target of $78.09.
Read Our Latest Report on Skechers U.S.A.
Skechers U.S.A. Company Profile
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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.
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