SG Americas Securities LLC Buys 6,876 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

SG Americas Securities LLC increased its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 93.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,266 shares of the textile maker's stock after purchasing an additional 6,876 shares during the quarter. SG Americas Securities LLC's holdings in Skechers U.S.A. were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC raised its stake in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC raised its stake in 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 valued at $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. during the fourth quarter valued at $32,000. Parallel Advisors LLC raised its stake 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 valued at $35,000 after buying an additional 399 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after purchasing an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX traded up $0.20 during mid-day trading on Monday, reaching $62.70. The stock had a trading volume of 5,073,933 shares, compared to its average volume of 3,433,095. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.38 billion, a P/E ratio of 15.07 and a beta of 1.13. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The business's 50 day moving average price is $57.92 and its 200 day moving average price is $61.95.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. Research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SKX. UBS Group reissued a "neutral" rating and issued a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Evercore ISI cut their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company lifted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen started coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They issued a "sell" rating for the company. One equities 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's stock. According to MarketBeat.com, Skechers U.S.A. presently has a consensus rating of "Hold" and a consensus price target of $67.69.

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.