Quantinno Capital Management LP Increases Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Quantinno Capital Management LP increased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 42.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 86,920 shares of the textile maker's stock after buying an additional 25,741 shares during the quarter. Quantinno Capital Management LP owned 0.06% of Skechers U.S.A. worth $5,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Skechers U.S.A. by 423.3% in 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 last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after buying an additional 299 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 887 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Skechers U.S.A. in the 2nd quarter worth about $69,000. Finally, Brooklyn Investment Group purchased a new position in shares of Skechers U.S.A. in the 3rd quarter worth about $67,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKX has been the topic of several recent research reports. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a "hold" rating on the stock. Morgan Stanley upped their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Bank of America dropped their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Barclays upped their price objective 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. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $78.09.

Skechers U.S.A. Price Performance

NYSE SKX traded up $0.76 on Friday, reaching $71.05. 2,709,781 shares of the company's stock traded hands, compared to its average volume of 1,699,137. 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 debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a 50-day simple moving average of $63.70 and a 200 day simple moving average of $66.11. The stock has a market cap of $10.73 billion, a PE ratio of 17.50, a P/E/G ratio of 0.98 and a beta of 1.22.

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 for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.25 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.