Victory Capital Management Inc. Purchases 3,924,962 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Victory Capital Management Inc. increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 15,774.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,949,844 shares of the textile maker's stock after buying an additional 3,924,962 shares during the quarter. Victory Capital Management Inc. owned 2.64% of Skechers U.S.A. worth $224,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in 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 valued at $29,000 after buying an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Skechers U.S.A. in the fourth quarter valued at approximately $32,000. Parallel Advisors LLC boosted its holdings 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 valued at $35,000 after buying an additional 399 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Skechers U.S.A. during the first quarter worth $35,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 0.0%

SKX traded up $0.01 during trading on Thursday, reaching $63.08. 1,179,936 shares of the stock were exchanged, compared to its average volume of 3,576,917. The stock has a market cap of $9.44 billion, a P/E ratio of 15.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The stock's 50 day moving average price is $62.50 and its two-hundred day moving average price is $61.35. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its 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. The company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. Skechers U.S.A.'s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. Equities analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SKX. 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. Evercore ISI reduced their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Barclays reaffirmed an "equal weight" rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. 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 stock. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Hold" and an average target price 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.