Arkadios Wealth Advisors Takes $1.14 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• Arkadios Wealth Advisors has invested $1.14 million in Skechers U.S.A., acquiring 20,151 shares during the first quarter of the year.
• Notable institutional investments include Victory Capital Management, which increased its stake in Skechers by 15,774.3%, now owning nearly 3.95 million shares valued at $224 million.
• Wall Street analysts have issued a consensus rating of "Hold"** for Skechers stock, with an average target price of $66.75, reflecting caution amid varying opinions on its future performance.

Arkadios Wealth Advisors bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,151 shares of the textile maker's stock, valued at approximately $1,144,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. LPL Financial LLC increased its holdings 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 valued at $5,243,000 after purchasing an additional 17,791 shares during the period. 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. Schroder Investment Management Group lifted its stake in shares of Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after buying an additional 18,024 shares in the last quarter. Wellington Management Group LLP lifted its position in Skechers U.S.A. by 6.3% in the 4th quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock valued at $73,319,000 after acquiring an additional 64,857 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Skechers U.S.A. by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 177,663 shares of the textile maker's stock valued at $11,946,000 after buying an additional 12,449 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 0.4%

Shares of Skechers U.S.A. stock traded down $0.27 on Friday, reaching $62.98. The company's stock had a trading volume of 7,925,479 shares, compared to its average volume of 2,850,975. The firm's fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $60.79. 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 market capitalization of $9.42 billion, a price-to-earnings ratio of 15.14 and a beta of 1.16. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

Analysts Set New Price Targets

Several research firms have weighed in on SKX. Evercore ISI cut their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Barclays reiterated an "equal weight" rating and set a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently 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.