Cambiar Investors LLC Takes $7.38 Million Position in Skechers U.S.A., Inc. $SKX

Key Points

• Cambiar Investors LLC purchased 130,011 shares of Skechers U.S.A. in the first quarter, valued at approximately $7,382,000, representing 0.09% of the company's total shares.
• Several institutional investors, including Cerity Partners LLC and Invesco Ltd., have increased their holdings in Skechers U.S.A., contributing to a total of 79.96% of the stock held by institutional investors and hedge funds.
• Analysts have set a new average target price of $63.00 for Skechers U.S.A., with a consensus rating of "Hold" from various research firms.

Cambiar Investors LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 130,011 shares of the textile maker's stock, valued at approximately $7,382,000. Cambiar Investors LLC owned approximately 0.09% of Skechers U.S.A. as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Skechers U.S.A. by 15,774.3% in the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after purchasing an additional 3,924,962 shares in the last quarter. Anomaly Capital Management LP lifted its holdings in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Skechers U.S.A. by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock valued at $158,739,000 after purchasing an additional 583,733 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Skechers U.S.A. by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock valued at $140,984,000 after purchasing an additional 174,697 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Skechers U.S.A. by 772.7% in the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after acquiring an additional 1,041,677 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of several recent research reports. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Morgan Stanley reiterated an "equal weight" rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Wall Street Zen initiated coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating for the company. Finally, UBS Group reiterated a "neutral" rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $66.75.

Skechers U.S.A. Stock Down 0.3%

Skechers U.S.A. stock traded down $0.17 during mid-day trading on Wednesday, hitting $62.89. 2,816,625 shares of the company's stock were exchanged, compared to its average volume of 4,583,191. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.45 billion, a P/E ratio of 14.36 and a beta of 1.16. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The stock has a 50 day moving average of $62.99 and a two-hundred day moving average of $59.86.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, topping the consensus estimate of $0.86 by $0.27. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.