Duquesne Family Office LLC Invests $72.27 Million in Skechers U.S.A., Inc. (NYSE:SKX)

Duquesne Family Office LLC bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,074,840 shares of the textile maker's stock, valued at approximately $72,272,000. Skechers U.S.A. comprises approximately 1.9% of Duquesne Family Office LLC's portfolio, making the stock its 11th largest position. Duquesne Family Office LLC owned approximately 0.71% of Skechers U.S.A. as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SKX. NewEdge Advisors LLC raised its position in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC lifted 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 purchasing an additional 358 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after purchasing an additional 239 shares during the period. IFP Advisors Inc grew its holdings in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after purchasing an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Skechers U.S.A. during the 4th quarter worth approximately $65,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Up 0.1 %

NYSE:SKX traded up $0.04 during mid-day trading on Friday, reaching $61.50. The stock had a trading volume of 6,087,343 shares, compared to its average volume of 2,909,716. 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 company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth 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 stock's 50 day simple moving average is $53.40 and its two-hundred day simple moving average is $62.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm earned $1.33 EPS. The business's revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares of the company's stock, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKX. Bank of America decreased their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Evercore ISI decreased their target price 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. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.