7,500 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Acquired by Shufro Rose & Co. LLC

Key Points

• Shufro Rose & Co. LLC has acquired a new stake in Skechers U.S.A., purchasing 7,500 shares valued at approximately $426,000 during the first quarter.
• Several institutional investors have also increased their positions in Skechers, with 79.96% of the company's stock now owned by such entities.
• Analysts have set a new consensus price target of $66.75 for Skechers, with ratings ranging from sell to hold and buy across different firms.

Shufro Rose & Co. LLC bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,500 shares of the textile maker's stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Arkadios Wealth Advisors acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at about $1,144,000. XTX Topco Ltd acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at about $2,623,000. Capricorn Fund Managers Ltd boosted its holdings in shares of Skechers U.S.A. by 102.2% in the 1st quarter. Capricorn Fund Managers Ltd now owns 182,000 shares of the textile maker's stock valued at $10,334,000 after buying an additional 92,000 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at about $1,533,000. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Skechers U.S.A. by 153.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 8,341 shares of the textile maker's stock valued at $474,000 after buying an additional 5,049 shares during the period. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX traded up $0.02 during trading on Wednesday, reaching $63.07. The company had a trading volume of 1,233,157 shares, compared to its average volume of 4,675,223. The firm's fifty day moving average is $62.81 and its 200 day moving average is $60.70. The firm has a market capitalization of $9.43 billion, a PE ratio of 15.16 and a beta of 1.16. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13.

Analysts Set New Price Targets

Several research analysts have recently commented on SKX shares. Wells Fargo & Company lifted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. TD Cowen lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a research note on Wednesday, May 28th. Morgan Stanley reissued an "equal weight" rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Finally, Wall Street Zen started coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They set a "sell" rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $66.75.

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.