Landscape Capital Management L.L.C. Makes New Investment in Skechers U.S.A., Inc. $SKX

Key Points

• Landscape Capital Management L.L.C. has acquired a new position in Skechers U.S.A., Inc. by purchasing 39,123 shares valued at approximately $2,221,000.
• Recent analyst ratings have been mixed, with Raymond James and TD Cowen downgrading Skechers to a "hold" rating, while the average price target has been set at $66.46.
• Skechers reported earnings of $1.13 EPS, exceeding expectations, with quarterly revenue rising by 13.1% compared to the previous year.

Landscape Capital Management L.L.C. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 39,123 shares of the textile maker's stock, valued at approximately $2,221,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SKX. Allspring Global Investments Holdings LLC increased its holdings in shares of Skechers U.S.A. by 49.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 90,309 shares of the textile maker's stock worth $5,192,000 after buying an additional 30,053 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Skechers U.S.A. by 130.5% during the 1st quarter. Vontobel Holding Ltd. now owns 11,190 shares of the textile maker's stock valued at $635,000 after purchasing an additional 6,335 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Skechers U.S.A. during the 4th quarter valued at about $5,804,000. Praxis Investment Management Inc. bought a new position in Skechers U.S.A. during the 1st quarter valued at about $232,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Skechers U.S.A. in the 4th quarter valued at about $1,110,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.04 during trading on Tuesday, reaching $63.12. The company's stock had a trading volume of 1,770,293 shares, compared to its average volume of 4,469,685. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.48 billion, a PE ratio of 14.41 and a beta of 1.19. The company has a 50-day moving average price of $63.08 and a two-hundred day moving average price of $59.47. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 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 business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group reaffirmed a "neutral" rating and issued a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Barclays reissued an "equal weight" rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Argus downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Tuesday, August 26th. Raymond James Financial downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised shares of Skechers U.S.A. to a "hold" rating in a research note on Saturday. One 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 stock. Based on data from MarketBeat.com, the company has a consensus 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.