Bayesian Capital Management LP Takes $2.54 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Bayesian Capital Management LP bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 37,800 shares of the textile maker's stock, valued at approximately $2,542,000.

A number of other large investors have also recently modified their holdings of the company. Bwcp LP increased its holdings in Skechers U.S.A. by 21.9% during the 4th quarter. Bwcp LP now owns 377,024 shares of the textile maker's stock worth $25,351,000 after purchasing an additional 67,635 shares during the period. AQR Capital Management LLC grew its position in shares of Skechers U.S.A. by 2.6% during the 4th quarter. AQR Capital Management LLC now owns 1,028,548 shares of the textile maker's stock worth $69,160,000 after buying an additional 26,373 shares in the last quarter. Perbak Capital Partners LLP purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at $275,000. Northern Trust Corp raised its holdings in shares of Skechers U.S.A. by 29.6% in the fourth quarter. Northern Trust Corp now owns 1,171,106 shares of the textile maker's stock valued at $78,745,000 after acquiring an additional 267,778 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Skechers U.S.A. by 604.2% in the fourth quarter. Tudor Investment Corp ET AL now owns 103,692 shares of the textile maker's stock worth $6,972,000 after acquiring an additional 88,968 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SKX shares. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Morgan Stanley reaffirmed an "equal weight" rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Wells Fargo & Company raised their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, UBS Group reiterated a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of "Moderate Buy" and a consensus price target of $70.00.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Performance

NYSE:SKX traded up $0.15 during trading hours on Wednesday, hitting $61.51. 21,977,458 shares of the company were exchanged, compared to its average volume of 2,834,977. The company's 50 day moving average price is $53.25 and its 200-day moving average price is $62.08. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.33 EPS. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.