Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 24.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,827 shares of the textile maker's stock after purchasing an additional 10,122 shares during the quarter. Tidal Investments LLC's holdings in Skechers U.S.A. were worth $3,468,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SKX. Pacer Advisors Inc. boosted its stake in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Commerce Bank boosted its position in shares of Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock valued at $31,303,000 after acquiring an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock valued at $33,382,000 after purchasing an additional 394,618 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Skechers U.S.A. in the second quarter valued at about $22,425,000. Finally, Wellington Management Group LLP raised its stake in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after purchasing an additional 287,939 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 0.4 %

NYSE:SKX traded up $0.25 during midday trading on Friday, hitting $70.35. 1,067,942 shares of the company were exchanged, compared to its average volume of 1,750,135. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The company has a market capitalization of $10.62 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $64.10 and a 200 day simple moving average of $66.19.

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, topping analysts' consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKX has been the subject of a number of recent analyst reports. Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a "hold" rating for the company. 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. Deutsche Bank Aktiengesellschaft increased their price objective 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. Morgan Stanley boosted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

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.