Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 26.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,304 shares of the textile maker's stock after selling 11,047 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Skechers U.S.A. were worth $1,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. NewEdge Advisors LLC grew its position in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its position in 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 acquiring an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the 4th quarter valued at about $32,000. Parallel Advisors LLC increased its position in Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after acquiring an additional 399 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of 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 period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

Shares of SKX traded down $0.03 during midday trading on Friday, hitting $62.11. 4,384,671 shares of the company traded hands, compared to its average volume of 3,304,915. The firm has a market cap of $9.29 billion, a P/E ratio of 14.97, a PEG ratio of 1.11 and a beta of 1.13. The stock has a 50-day moving average of $55.27 and a 200-day moving average of $62.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Barclays reaffirmed an "equal weight" rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research 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 report on Wednesday, May 7th. Wells Fargo & Company upped their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen began coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Skechers U.S.A. currently has a consensus 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.