GAMMA Investing LLC Raises Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

GAMMA Investing LLC grew its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 9,033.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 187,317 shares of the textile maker's stock after buying an additional 185,266 shares during the quarter. GAMMA Investing LLC owned 0.13% of Skechers U.S.A. worth $10,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SKX. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% in 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 during the period. TD Private Client Wealth LLC lifted its holdings in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after buying an additional 358 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $32,000. IFP Advisors Inc lifted its holdings in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after buying an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

NYSE:SKX traded up $0.02 during trading hours on Wednesday, hitting $62.60. 4,839,379 shares of the stock were exchanged, compared to its average volume of 3,338,491. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.36 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.11 and a beta of 1.13. The firm's fifty day moving average price is $55.94 and its 200 day moving average price is $62.17.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate 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 firms recently weighed in on SKX. 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 report on Wednesday, May 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Raymond James cut Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. UBS Group reaffirmed a "neutral" rating and issued a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Wells Fargo & Company upped their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $67.69.

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.