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

A number of other hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC grew its holdings in shares of Skechers U.S.A. by 4.3% in the first quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker's stock valued at $233,000 after purchasing an additional 168 shares during the period. Cerity Partners LLC grew its holdings in shares of Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after purchasing an additional 172 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares during the period. SageView Advisory Group LLC grew its holdings in shares of Skechers U.S.A. by 2.7% in the fourth quarter. SageView Advisory Group LLC now owns 8,496 shares of the textile maker's stock valued at $571,000 after purchasing an additional 224 shares during the period. Finally, Delphi Management Inc. MA grew its holdings in shares of Skechers U.S.A. by 1.0% in the first quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock valued at $1,294,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays reissued an "equal weight" rating and issued a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and issued a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. UBS Group restated a "neutral" rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a 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 report on Thursday, April 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Stock Up 0.0%

Shares of Skechers U.S.A. stock traded up $0.02 on Wednesday, reaching $63.07. 1,233,157 shares of the company were exchanged, compared to its average volume of 4,675,223. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The company has a market cap of $9.43 billion, a P/E ratio of 15.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The stock's 50 day moving average price is $62.81 and its 200-day moving average price is $60.70.

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.