Riggs Asset Managment Co. Inc. cut its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 99.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 627 shares of the textile maker's stock after selling 85,814 shares during the quarter. Riggs Asset Managment Co. Inc.'s holdings in Skechers U.S.A. were worth $36,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% in 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 purchased a new position in shares of Skechers U.S.A. in the fourth quarter worth $32,000. Parallel Advisors LLC increased its stake in shares of Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after buying an additional 399 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Skechers U.S.A. in the first quarter worth $35,000. 79.96% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. Stock Performance
Shares of NYSE SKX traded down $0.04 during trading on Tuesday, reaching $63.32. 1,312,065 shares of the company traded hands, compared to its average volume of 3,542,151. The firm has a 50 day simple moving average of $61.22 and a 200-day simple moving average of $61.48. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.47 billion, a PE ratio of 15.22 and a beta of 1.12. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly 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 net margin of 6.96% and a return on equity of 13.34%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $1.33 EPS. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages recently commented on SKX. 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 note on Wednesday, May 28th. UBS Group reissued a "neutral" rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Raymond James Financial downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen started coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They issued a "sell" rating on the stock. Finally, Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $67.69.
Read Our Latest Stock Report on SKX
Skechers U.S.A. Profile
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Free Report)
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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