Allianz Asset Management GmbH Decreases Position in Skechers U.S.A., Inc. (NYSE:SKX)

Allianz Asset Management GmbH reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 46.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,952 shares of the textile maker's stock after selling 66,830 shares during the quarter. Allianz Asset Management GmbH owned 0.05% of Skechers U.S.A. worth $4,369,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SKX. NewEdge Advisors LLC grew its stake in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth $32,000. Parallel Advisors LLC raised its position in shares of 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 purchasing an additional 399 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Skechers U.S.A. during the first quarter valued at $35,000. Finally, Abound Financial LLC bought a new stake in shares of Skechers U.S.A. in the 1st quarter valued at approximately $35,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 0.1%

NYSE SKX traded down $0.08 during trading hours on Friday, hitting $63.18. The company's stock had a trading volume of 1,743,013 shares, compared to its average volume of 4,697,943. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a market capitalization of $9.45 billion, a PE ratio of 15.19 and a beta of 1.12. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The company's 50-day simple moving average is $62.75 and its two-hundred day simple moving average is $60.91.

Analyst Upgrades and Downgrades

Several research firms have commented on SKX. Raymond James Financial cut Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. 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. UBS Group reaffirmed a "neutral" rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Hold" and an average price target of $66.75.

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.