Quadrature Capital Ltd Decreases Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Quadrature Capital Ltd trimmed its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 74.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,702 shares of the textile maker's stock after selling 40,957 shares during the quarter. Quadrature Capital Ltd's holdings in Skechers U.S.A. were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. UMB Bank n.a. lifted its holdings in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of 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 during the last quarter. Blue Trust Inc. boosted its holdings in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after acquiring an additional 887 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Skechers U.S.A. in the 2nd quarter worth approximately $69,000. Finally, Brooklyn Investment Group purchased a new stake in Skechers U.S.A. during the 3rd quarter valued at $67,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $0.76 during trading on Friday, reaching $71.05. 2,709,781 shares of the stock traded hands, compared to its average volume of 1,699,137. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 0.98 and a beta of 1.22. 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 fifty day simple moving average of $63.70 and a two-hundred day simple moving average of $66.11.

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 for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the business 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 Analysts Forecast Growth

A number of brokerages have commented on SKX. Barclays upped their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, October 25th. TD Cowen cut their price target 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. StockNews.com downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They set a "hold" rating on the stock. Finally, Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $78.09.

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.