AE Wealth Management LLC Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• AE Wealth Management LLC has acquired a new position in Skechers U.S.A., Inc., purchasing 4,644 shares valued at approximately $264,000.
• Major institutional investors have increased their stakes in Skechers, with 79.96% of the stock currently owned by institutional investors and hedge funds.
• Barclays has issued a target price of $63.00 for Skechers, maintaining an "equal weight" rating, while overall analyst consensus is a "Hold" rating with a price target of $66.75.

AE Wealth Management LLC acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,644 shares of the textile maker's stock, valued at approximately $264,000.

A number of other institutional investors have also added to or reduced their stakes in SKX. LPL Financial LLC increased its position in Skechers U.S.A. by 29.6% during the 4th quarter. LPL Financial LLC now owns 77,976 shares of the textile maker's stock worth $5,243,000 after purchasing an additional 17,791 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Skechers U.S.A. by 11.2% during the 4th 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 in the last quarter. Schroder Investment Management Group increased its position in Skechers U.S.A. by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after purchasing an additional 18,024 shares in the last quarter. Wellington Management Group LLP grew its holdings in Skechers U.S.A. by 6.3% during the 4th quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock worth $73,319,000 after acquiring an additional 64,857 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Skechers U.S.A. by 7.5% in the 4th quarter. Franklin Resources Inc. now owns 177,663 shares of the textile maker's stock valued at $11,946,000 after acquiring an additional 12,449 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SKX shares. Barclays restated an "equal weight" rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. 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, May 7th. TD Cowen cut 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 research report on Wednesday, May 28th. Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. One research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $66.75.

Skechers U.S.A. Trading Down 0.1%

SKX opened at $63.19 on Friday. 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 quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $62.75 and a 200-day moving average of $60.91. The stock has a market cap of $9.45 billion, a PE ratio of 15.19 and a beta of 1.12.

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.

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