Hussman Strategic Advisors Inc. Buys New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

Hussman Strategic Advisors Inc. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,000 shares of the textile maker's stock, valued at approximately $1,192,000.

A number of other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings 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 acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth $32,000. Parallel Advisors LLC boosted its position in Skechers U.S.A. by 183.0% during the first 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, Golden State Wealth Management LLC purchased a new position in Skechers U.S.A. in the 1st quarter valued at $35,000. Institutional investors own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SKX shares. Barclays reissued an "equal weight" rating and set a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. UBS Group restated a "neutral" rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research report on Wednesday, May 28th. Wells Fargo & Company upped their target price 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Trading Up 0.1%

Shares of NYSE:SKX traded up $0.07 during midday trading on Monday, reaching $63.15. The company's stock had a trading volume of 929,478 shares, compared to its average volume of 3,577,489. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The firm has a 50 day moving average price of $62.56 and a two-hundred day moving average price of $61.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 15.17 and a beta of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.96% and a return on equity of 13.34%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $1.33 EPS. The company's revenue was up 7.1% on a year-over-year basis. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

About Skechers U.S.A.

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.