Brevan Howard Capital Management LP Acquires 21,363 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Brevan Howard Capital Management LP increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 102.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 42,245 shares of the textile maker's stock after purchasing an additional 21,363 shares during the period. Brevan Howard Capital Management LP's holdings in Skechers U.S.A. were worth $2,841,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Captrust Financial Advisors boosted its stake in shares of Skechers U.S.A. by 8.9% during the 4th quarter. Captrust Financial Advisors now owns 5,624 shares of the textile maker's stock worth $378,000 after acquiring an additional 461 shares during the period. Baldwin Investment Management LLC lifted its holdings in Skechers U.S.A. by 12.7% during the 4th quarter. Baldwin Investment Management LLC now owns 11,575 shares of the textile maker's stock valued at $778,000 after purchasing an additional 1,300 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Skechers U.S.A. in the fourth quarter valued at $2,542,000. Bwcp LP raised its position in shares of Skechers U.S.A. by 21.9% in the fourth quarter. Bwcp LP now owns 377,024 shares of the textile maker's stock valued at $25,351,000 after purchasing an additional 67,635 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Skechers U.S.A. by 2.6% in the fourth quarter. AQR Capital Management LLC now owns 1,028,548 shares of the textile maker's stock valued at $69,160,000 after purchasing an additional 26,373 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Insiders Place Their Bets

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.78% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded up $0.04 during trading hours on Friday, hitting $61.50. 6,087,343 shares of the stock were exchanged, compared to its average volume of 2,909,716. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The company has a market cap of $9.19 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company's fifty day simple moving average is $53.32 and its two-hundred day simple moving average is $62.07.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued 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 return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company posted $1.33 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on SKX shares. Evercore ISI decreased their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Bank of America dropped their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. Wells Fargo & Company upped their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Morgan Stanley reissued 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 report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $70.00.

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.