Dynamic Technology Lab Private Ltd Takes Position in Skechers U.S.A., Inc. $SKX

Key Points

• Dynamic Technology Lab Private Ltd acquired 19,542 shares of Skechers U.S.A., valued at approximately $1,110,000, in the first quarter.
• Several institutional investors recently entered positions in Skechers U.S.A., with institutional ownership now at 79.96%.
• Skechers U.S.A. reported an earnings per share (EPS) of $1.13, exceeding analyst expectations of $0.86, with a revenue increase of 13.1% year-over-year.

Dynamic Technology Lab Private Ltd bought a new stake in shares of 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 & Exchange Commission. The institutional investor bought 19,542 shares of the textile maker's stock, valued at approximately $1,110,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in 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 worth $224,272,000 after purchasing an additional 3,924,962 shares during the period. Two Sigma Investments LP grew its holdings 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 period. Two Sigma Advisers LP grew its holdings in shares of Skechers U.S.A. by 381.0% in the fourth quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after acquiring an additional 856,900 shares during the period. Nuveen LLC purchased a new position in Skechers U.S.A. during the first quarter valued at $34,525,000. Finally, Dimensional Fund Advisors LP lifted its position in Skechers U.S.A. by 26.4% during 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. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SKX. Wall Street Zen raised Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. TD Cowen lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a report on Wednesday, May 28th. Argus lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a report on Tuesday, August 26th. Zacks Research upgraded Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $66.46.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $0.06 during midday trading on Wednesday, hitting $63.21. 1,417,853 shares of the company's stock were exchanged, compared to its average volume of 2,790,749. The firm's 50 day simple moving average is $63.11 and its 200 day simple moving average is $59.45. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 14.43 and a beta of 1.19.

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