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

Several other hedge funds also recently modified their holdings of SKX. HB Wealth Management LLC raised its holdings in 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 acquiring an additional 168 shares in the last quarter. National Bank of Canada FI increased its position in shares of Skechers U.S.A. by 8.5% during the 1st 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 last quarter. PNC Financial Services Group Inc. raised its stake in shares of Skechers U.S.A. by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker's stock worth $429,000 after purchasing an additional 204 shares in the last quarter. Delphi Management Inc. MA boosted its holdings in shares of Skechers U.S.A. by 1.0% in the 1st quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker's stock valued at $1,294,000 after buying an additional 236 shares during the last quarter. Finally, Dean Capital Management boosted its holdings in shares of Skechers U.S.A. by 1.3% in the 4th quarter. Dean Capital Management now owns 18,948 shares of the textile maker's stock valued at $1,274,000 after buying an additional 240 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

SKX traded down $0.03 on Tuesday, reaching $63.23. The company had a trading volume of 695,173 shares, compared to its average volume of 4,407,417. The stock has a market cap of $9.50 billion, a P/E ratio of 14.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The company's fifty day moving average is $63.11 and its 200 day moving average is $59.40.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $0.91 earnings per share. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SKX. Zacks Research upgraded shares of Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Skechers U.S.A. to a "hold" rating in a research note on Saturday, August 30th. TD Cowen downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a research report on Wednesday, May 28th. Finally, Argus lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.