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

Barden Capital Management Inc. purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,839 shares of the textile maker's stock, valued at approximately $899,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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 worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC grew its stake in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV bought a new position in Skechers U.S.A. during the 4th quarter worth $32,000. Parallel Advisors LLC grew its stake in Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after buying an additional 399 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after buying an additional 317 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Down 0.0%

Shares of Skechers U.S.A. stock opened at $62.11 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The business has a fifty day simple moving average of $55.36 and a 200-day simple moving average of $62.15. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

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 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays restated an "equal weight" rating and set a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Wednesday, May 28th. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, Raymond James cut Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $67.69.

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.

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