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

Brevan Howard Capital Management LP grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 102.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,245 shares of the textile maker's stock after acquiring 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in shares of Skechers U.S.A. during the 4th quarter worth approximately $2,752,000. Fiduciary Financial Group LLC acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth $298,000. Assenagon Asset Management S.A. lifted its position in shares of Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after buying an additional 15,874 shares during the last quarter. Park Avenue Securities LLC raised its stake in Skechers U.S.A. by 13.0% during the fourth quarter. Park Avenue Securities LLC now owns 16,830 shares of the textile maker's stock worth $1,132,000 after acquiring an additional 1,933 shares in the last quarter. Finally, Morton Capital Management LLC CA acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $2,305,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKX shares. Wells Fargo & Company increased their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. StockNews.com lowered shares of Skechers U.S.A. from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. UBS Group reaffirmed a "neutral" rating and set a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Raymond James lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $70.00.

Skechers U.S.A. Stock Up 0.1 %

SKX traded up $0.04 during midday trading on Friday, reaching $61.50. The company's stock had a trading volume of 6,087,343 shares, compared to its average volume of 2,917,491. The stock's 50-day moving average is $53.40 and its 200-day moving average is $62.07. The firm 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., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. As a group, research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. In 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. 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.