CreativeOne Wealth LLC Buys 8,804 Shares of Skechers U.S.A., Inc. $SKX

Key Points

• CreativeOne Wealth LLC increased its stake in Skechers U.S.A., Inc. by 85.4% in the first quarter, totaling 19,111 shares worth $1,085,000.
• A significant portion, 79.96%, of Skechers' stock is owned by institutional investors, with several firms also raising their stakes in recent quarters.
• Equities analysts have largely downgraded their ratings on Skechers' shares, with most recent targets indicating a consensus rating of "Hold" and a target price of $66.46.

CreativeOne Wealth LLC raised its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 85.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,111 shares of the textile maker's stock after acquiring an additional 8,804 shares during the quarter. CreativeOne Wealth LLC's holdings in Skechers U.S.A. were worth $1,085,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Skechers U.S.A. by 49.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 90,309 shares of the textile maker's stock worth $5,192,000 after acquiring an additional 30,053 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Skechers U.S.A. by 130.5% in the first quarter. Vontobel Holding Ltd. now owns 11,190 shares of the textile maker's stock worth $635,000 after acquiring an additional 6,335 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $5,804,000. Praxis Investment Management Inc. bought a new position in shares of Skechers U.S.A. in the first quarter worth about $232,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $1,110,000. Institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Wells Fargo & Company raised their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Skechers U.S.A. to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and a consensus target price of $66.46.

Skechers U.S.A. Stock Up 0.1%

SKX traded up $0.08 during mid-day trading on Tuesday, reaching $63.16. 2,647,790 shares of the stock were exchanged, compared to its average volume of 4,475,431. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. The stock has a market capitalization of $9.49 billion, a PE ratio of 14.42 and a beta of 1.19. The company has a 50 day moving average price of $63.08 and a two-hundred day moving average price of $59.47. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.27. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS 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.