PFG Investments LLC Has $287,000 Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

PFG Investments LLC raised its stake in Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 28.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,059 shares of the textile maker’s stock after acquiring an additional 1,116 shares during the quarter. PFG Investments LLC’s holdings in Skechers U.S.A. were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC increased its holdings in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after buying an additional 358 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at $32,000. Parallel Advisors LLC increased its stake in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after buying an additional 399 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.1%

Shares of NYSE SKX opened at $62.85 on Thursday. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The stock has a market cap of $9.40 billion, a P/E ratio of 15.11 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The firm has a 50 day moving average price of $58.81 and a 200 day moving average price of $61.91.

Skechers U.S.A. (NYSE:SKXGet Free Report) last announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SKX shares. Evercore ISI lowered their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Wall Street Zen began coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a “sell” rating for the company. Finally, Raymond James Financial cut shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.69.

Get Our Latest Stock Report on Skechers U.S.A.

Skechers U.S.A. Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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