Hennion & Walsh Asset Management Inc. Sells 11,047 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Hennion & Walsh Asset Management Inc. reduced its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,304 shares of the textile maker's stock after selling 11,047 shares during the period. 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.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Skechers U.S.A. by 85.2% during 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 in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Skechers U.S.A. during the 4th quarter worth about $32,000. Parallel Advisors LLC raised its stake in shares of Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after purchasing an additional 399 shares in the last quarter. Finally, IFP Advisors Inc raised its stake 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 purchasing an additional 317 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Performance

SKX traded up $0.03 during midday trading on Monday, reaching $62.12. The company's stock had a trading volume of 3,697,331 shares, compared to its average volume of 3,308,312. The stock 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 company has a fifty day simple moving average of $55.36 and a 200 day simple moving average of $62.16. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $1.33 EPS. The company's revenue was up 7.1% on a year-over-year basis. Research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKX. UBS Group reaffirmed a "neutral" rating and set a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Evercore ISI lowered their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Finally, Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.