Barden Capital Management Inc. Acquires New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

Barden Capital Management Inc. bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,839 shares of the textile maker's stock, valued at approximately $899,000.

Several other large investors have also added to or reduced their stakes in SKX. UMB Bank n.a. lifted its stake in Skechers U.S.A. by 120.3% in the 1st quarter. UMB Bank n.a. now owns 1,518 shares of the textile maker's stock worth $86,000 after purchasing an additional 829 shares in the last quarter. Sendero Wealth Management LLC increased its stake in Skechers U.S.A. by 35.7% in the 1st quarter. Sendero Wealth Management LLC now owns 16,483 shares of the textile maker's stock worth $936,000 after acquiring an additional 4,332 shares during the last quarter. Cascade Investment Advisors Inc. increased its stake in Skechers U.S.A. by 4.1% in the 1st quarter. Cascade Investment Advisors Inc. now owns 25,925 shares of the textile maker's stock worth $1,472,000 after acquiring an additional 1,025 shares during the last quarter. Delphi Management Inc. MA increased its stake in Skechers U.S.A. by 1.0% in the 1st quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock worth $1,294,000 after acquiring an additional 236 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SKX shares. Barclays reissued an "equal weight" rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. TD Cowen lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a report on Wednesday, May 28th. Wells Fargo & Company upped their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Stifel Nicolaus reduced their price target 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. Finally, Wall Street Zen assumed coverage on Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Stock Up 0.0%

SKX stock traded up $0.02 on Wednesday, reaching $62.60. 4,789,269 shares of the company traded hands, compared to its average volume of 4,968,031. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a market cap of $9.36 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The firm has a fifty day simple moving average of $55.69 and a 200-day simple moving average of $62.17.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $1.33 EPS. Skechers U.S.A.'s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.