Stevens Capital Management LP Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Stevens Capital Management LP acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,803 shares of the textile maker’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SKX. Massachusetts Financial Services Co. MA increased its position in Skechers U.S.A. by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock worth $233,520,000 after buying an additional 112,517 shares during the period. Pacer Advisors Inc. raised its position in Skechers U.S.A. by 6,521.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock worth $90,804,000 after acquiring an additional 1,434,601 shares in the last quarter. AQR Capital Management LLC raised its position in Skechers U.S.A. by 72.8% in the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock worth $64,185,000 after acquiring an additional 552,452 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Skechers U.S.A. by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,253,160 shares of the textile maker’s stock worth $61,342,000 after acquiring an additional 36,278 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Skechers U.S.A. by 4.4% in the third quarter. Loomis Sayles & Co. L P now owns 827,991 shares of the textile maker’s stock worth $40,530,000 after acquiring an additional 35,154 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SKX. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. TD Cowen increased their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Bank of America started coverage on Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Wedbush raised their price objective on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Evercore ISI cut their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded up $6.57 during mid-day trading on Friday, reaching $65.39. The company had a trading volume of 7,731,206 shares, compared to its average volume of 1,723,389. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.02 billion, a PE ratio of 19.23, a P/E/G ratio of 1.07 and a beta of 1.32. The company has a 50-day moving average price of $59.61 and a two-hundred day moving average price of $57.92. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $69.07.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that Skechers U.S.A., Inc. will post 3.81 earnings per share for the current year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the sale, the executive vice president now owns 14,023 shares in the company, valued at $856,945.53. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock worth $15,021,192 over the last 90 days. 24.75% of the stock is currently owned by corporate insiders.

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.