SG Americas Securities LLC Has $810,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

SG Americas Securities LLC raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 93.0% during the 1st quarter, according to the company in its most recent 13F 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 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC raised its position 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 period. TD Private Client Wealth LLC boosted its position in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the period. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. during the 4th quarter valued at about $32,000. Parallel Advisors LLC increased its holdings in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after purchasing an additional 399 shares during the period. 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 valued at $55,000 after purchasing an additional 317 shares during the period. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 0.1%

NYSE:SKX traded up $0.09 during trading hours on Friday, reaching $62.53. The company's stock had a trading volume of 6,350,119 shares, compared to its average volume of 3,433,712. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 15.03 and a beta of 1.13. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The business's 50-day moving average is $57.66 and its 200-day moving average is $62.12.

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 for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

SKX has been the subject of several research reports. Evercore ISI decreased their price target on shares of 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. Stifel Nicolaus cut their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. TD Cowen cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $67.69.

About Skechers U.S.A.

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.