Point72 DIFC Ltd Sells 10,165 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Point72 DIFC Ltd lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 27.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,321 shares of the textile maker's stock after selling 10,165 shares during the period. Point72 DIFC Ltd's holdings in Skechers U.S.A. were worth $1,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Skechers U.S.A. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker's stock worth $130,350,000 after purchasing an additional 55,095 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after acquiring an additional 17,429 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Skechers U.S.A. by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker's stock worth $50,328,000 after acquiring an additional 49,734 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in shares of Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock worth $33,382,000 after acquiring an additional 394,618 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Barclays increased their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. TD Cowen reduced 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, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $78.09.

Skechers U.S.A. Trading Down 0.5 %

Shares of SKX stock traded down $0.37 during trading hours on Thursday, hitting $70.28. 1,788,350 shares of the company's stock traded hands, compared to its average volume of 1,885,978. The stock's 50 day simple moving average is $63.65 and its 200 day simple moving average is $66.11. The stock has a market cap of $10.61 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.22. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The company'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 EPS 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.