Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 120.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,808 shares of the textile maker's stock after purchasing an additional 39,819 shares during the period. Stifel Financial Corp's holdings in Skechers U.S.A. were worth $4,872,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in 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 valued at $30,000 after acquiring an additional 364 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after buying an additional 299 shares in the last quarter. Blue Trust Inc. increased its stake 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 valued at $69,000 after purchasing an additional 887 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Skechers U.S.A. in the 2nd quarter worth about $69,000. Finally, Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the third quarter valued at approximately $67,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SKX shares. Bank of America decreased 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. TD Cowen dropped their price target on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research report on Monday, October 14th. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price target on the stock. Finally, 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 for the company. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $77.00.

Skechers U.S.A. Stock Down 3.0 %

SKX stock traded down $2.12 during mid-day trading on Monday, reaching $68.23. The company had a trading volume of 2,077,253 shares, compared to its average volume of 1,885,056. 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 $10.30 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The firm has a fifty day simple moving average of $64.10 and a 200 day simple moving average of $66.17.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion for 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%. Skechers U.S.A.'s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 earnings per share. Analysts forecast that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

About Skechers U.S.A.

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.