AE Wealth Management LLC Invests $264,000 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 bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 4,644 shares of the textile maker's stock, valued at approximately $264,000.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Skechers U.S.A. by 15,774.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after acquiring an additional 3,924,962 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $72,272,000. Two Sigma Investments LP grew its holdings in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after buying an additional 1,041,677 shares in the last quarter. Anomaly Capital Management LP grew its holdings in shares of Skechers U.S.A. by 51.2% during the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after buying an additional 1,011,815 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Skechers U.S.A. by 381.0% during the fourth quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after buying an additional 856,900 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 0.0%

SKX stock traded up $0.03 during mid-day trading on Tuesday, hitting $63.10. 762,840 shares of the company were exchanged, compared to its average volume of 4,695,031. 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 firm has a market capitalization of $9.44 billion, a P/E ratio of 15.17 and a beta of 1.16. The business has a fifty day simple moving average of $62.79 and a 200-day simple moving average of $60.68. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

Analyst Ratings Changes

SKX has been the subject of a number of research reports. UBS Group reaffirmed a "neutral" rating and set a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Wells Fargo & Company upped their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $66.75.

About Skechers U.S.A.

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.