Skechers U.S.A., Inc. (NYSE:SKX) Position Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 51.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,319 shares of the textile maker's stock after selling 21,525 shares during the period. Y Intercept Hong Kong Ltd's holdings in Skechers U.S.A. were worth $1,360,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SKX. Pacer Advisors Inc. grew its holdings in 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 acquiring an additional 2,594,507 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Skechers U.S.A. by 3.0% in the second 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after purchasing an additional 17,429 shares during the period. Wellington Management Group LLP raised its holdings in shares of 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. Finally, Loomis Sayles & Co. L P lifted its position in shares of Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker's stock worth $50,328,000 after buying an additional 49,734 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday. They set a "neutral" rating and a $65.00 target price for the company. Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a "hold" rating on the stock. Morgan Stanley boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX traded down $0.91 during trading on Thursday, reaching $70.10. The company had a trading volume of 1,504,799 shares, compared to its average volume of 1,887,598. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09. 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 market capitalization of $10.58 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. The firm's fifty day moving average is $63.97 and its 200 day moving average is $66.18.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion during 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 revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Skechers U.S.A. Company 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.