Foundations Investment Advisors LLC Purchases 5,049 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• Foundations Investment Advisors LLC increased its stake in Skechers U.S.A., Inc. by 153.4% during the first quarter, owning 8,341 shares valued at $474,000.
• Other institutional investors have also significantly raised their positions, with hedge funds collectively owning 79.96% of Skechers' stock.
• Skechers has received various analyst ratings, with one "sell" rating, eight "hold" ratings, and five "buy" ratings, leading to a consensus rating of "Hold" and an average target price of $66.75.

Foundations Investment Advisors LLC raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 153.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,341 shares of the textile maker's stock after purchasing an additional 5,049 shares during the period. Foundations Investment Advisors LLC's holdings in Skechers U.S.A. were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Skechers U.S.A. by 15,774.3% in the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after purchasing an additional 3,924,962 shares during the last quarter. Duquesne Family Office LLC bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth approximately $72,272,000. Two Sigma Investments LP grew its holdings in shares of Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after purchasing an additional 1,041,677 shares in the last quarter. Anomaly Capital Management LP raised its stake in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Skechers U.S.A. by 381.0% in the fourth quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after purchasing an additional 856,900 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.01 on Tuesday, reaching $63.08. 857,612 shares of the company traded hands, compared to its average volume of 4,695,563. 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 firm has a market capitalization of $9.44 billion, a PE ratio of 15.16 and a beta of 1.16. The company has a 50 day moving average of $62.79 and a 200 day moving average of $60.68. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen initiated coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They issued a "sell" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their target price 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of "Hold" and a consensus target price of $66.75.

Skechers U.S.A. 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.