Dynamic Technology Lab Private Ltd Invests $1.11 Million 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 position 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 and Exchange Commission (SEC). The fund bought 19,542 shares of the textile maker's stock, valued at approximately $1,110,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in Skechers U.S.A. during the first quarter worth about $26,000. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. during the fourth quarter worth about $32,000. Parallel Advisors LLC raised its position in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after acquiring an additional 399 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Skechers U.S.A. during the first quarter worth about $35,000. Finally, Abound Financial LLC purchased a new stake in shares of Skechers U.S.A. during the first quarter worth about $35,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SKX. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. TD Cowen downgraded shares of 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. Zacks Research upgraded shares of Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. Finally, Argus downgraded shares of 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 Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.46.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock remained flat at $63.13 during trading on Friday. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The business's 50 day moving average price is $63.10 and its 200 day moving average price is $59.44. The firm has a market cap of $9.49 billion, a PE ratio of 14.41 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. Skechers U.S.A.'s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.