Ieq Capital LLC Has $569,000 Stake in Skechers U.S.A., Inc. $SKX

Key Points

• Ieq Capital LLC reduced its stake in Skechers U.S.A. by 60.2%, holding 10,027 shares worth $569,000 at the end of the first quarter.
• Skechers U.S.A. recorded a net margin of 7.07% and a year-over-year revenue increase of 13.1%, reporting earnings of $1.13 per share, which exceeded analysts' expectations.
• Currently, 79.96% of Skechers' stock is owned by institutional investors and hedge funds, reflecting strong institutional interest in the company.

Ieq Capital LLC trimmed its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 60.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,027 shares of the textile maker's stock after selling 15,183 shares during the quarter. Ieq Capital LLC's holdings in Skechers U.S.A. were worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. HB Wealth Management LLC raised its position in shares of Skechers U.S.A. by 4.3% during the first quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker's stock worth $233,000 after purchasing an additional 168 shares during the period. National Bank of Canada FI raised its position in shares of Skechers U.S.A. by 8.5% during the first quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker's stock worth $136,000 after purchasing an additional 189 shares during the period. PNC Financial Services Group Inc. grew its holdings in Skechers U.S.A. by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker's stock worth $429,000 after buying an additional 204 shares in the last quarter. Delphi Management Inc. MA grew its holdings in Skechers U.S.A. by 1.0% during the first quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock worth $1,294,000 after buying an additional 236 shares in the last quarter. Finally, Dean Capital Management grew its holdings in Skechers U.S.A. by 1.3% during the fourth quarter. Dean Capital Management now owns 18,948 shares of the textile maker's stock worth $1,274,000 after buying an additional 240 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Up 0.1%

Shares of NYSE:SKX opened at $63.19 on Thursday. The company has a market capitalization of $9.50 billion, a PE ratio of 14.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The business has a fifty day moving average price of $63.09 and a two-hundred day moving average price of $59.52. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.27. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. Analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SKX shares. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Zacks Research upgraded Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. TD Cowen downgraded 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. Argus downgraded 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 Tuesday, August 26th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $66.46.

Skechers U.S.A. Company 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.

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