Capricorn Fund Managers Ltd Raises Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• Capricorn Fund Managers Ltd has increased its stake in Skechers U.S.A., Inc. by 102.2%, acquiring an additional 92,000 shares, bringing its total holdings to 182,000 shares.
• Skechers U.S.A. now constitutes approximately 5.5% of Capricorn Fund Managers Ltd's portfolio, making it their 3rd biggest holding.
• Analysts have varied opinions on Skechers U.S.A., with an average price target of $66.75, while some institutions have set their targets between $60.00 and $78.00.

Capricorn Fund Managers Ltd increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 102.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,000 shares of the textile maker's stock after purchasing an additional 92,000 shares during the period. Skechers U.S.A. accounts for 5.5% of Capricorn Fund Managers Ltd's holdings, making the stock its 3rd biggest holding. Capricorn Fund Managers Ltd owned 0.12% of Skechers U.S.A. worth $10,334,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its holdings 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 buying an additional 190 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Skechers U.S.A. in the fourth quarter valued at $32,000. Parallel Advisors LLC increased its position in Skechers U.S.A. by 183.0% in 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 last quarter. Golden State Wealth Management LLC purchased a new stake in Skechers U.S.A. during the first quarter valued at $35,000. Finally, Abound Financial LLC bought a new position in Skechers U.S.A. during the first quarter valued at $35,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 0.0%

Shares of SKX traded up $0.01 during trading hours on Wednesday, reaching $63.19. 2,888,007 shares of the company traded hands, compared to its average volume of 2,598,488. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 15.19 and a beta of 1.12. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The stock's fifty day moving average price is $62.73 and its 200 day moving average price is $60.96. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

SKX has been the topic of a number of research reports. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a report on Wednesday, May 28th. Wells Fargo & Company upped 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. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Evercore ISI cut their target price 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. Finally, Barclays restated 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 report on Tuesday, May 6th. One 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 company's stock. Based on data from MarketBeat.com, Skechers U.S.A. has an average rating of "Hold" and a consensus 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.