XTX Topco Ltd Invests $2.62 Million in Skechers U.S.A., Inc. (NYSE:SKX)

XTX Topco Ltd purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,192 shares of the textile maker's stock, valued at approximately $2,623,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SKX. LPL Financial LLC grew its position in Skechers U.S.A. by 29.6% in the fourth quarter. LPL Financial LLC now owns 77,976 shares of the textile maker's stock worth $5,243,000 after buying an additional 17,791 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Skechers U.S.A. by 15.6% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,389 shares of the textile maker's stock worth $2,111,000 after acquiring an additional 4,247 shares in the last quarter. Norges Bank acquired a new position in shares of Skechers U.S.A. in the 4th quarter worth $105,741,000. Pictet Asset Management Holding SA raised its position in shares of Skechers U.S.A. by 11.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 105,929 shares of the textile maker's stock worth $7,123,000 after purchasing an additional 10,668 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after purchasing an additional 18,024 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SKX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating on the stock. UBS Group reissued a "neutral" rating and set a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded down $0.27 during trading on Friday, hitting $62.98. 7,925,479 shares of the company's stock traded hands, compared to its average volume of 2,454,696. The company has a market cap of $9.42 billion, a PE ratio of 15.14 and a beta of 1.16. The firm's fifty day moving average price is $62.77 and its 200 day moving average price is $60.85. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28.

Skechers U.S.A. 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.