Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 74.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,433 shares of the textile maker's stock after buying an additional 60,160 shares during the period. Edgestream Partners L.P. owned 0.09% of Skechers U.S.A. worth $7,974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Skechers U.S.A. in the 4th quarter worth about $2,378,000. Raymond James Financial Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $12,852,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Skechers U.S.A. by 2.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,680 shares of the textile maker's stock valued at $1,592,000 after acquiring an additional 671 shares in the last quarter. Independent Advisor Alliance raised its holdings in Skechers U.S.A. by 4.7% in the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after acquiring an additional 200 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Skechers U.S.A. by 4.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the textile maker's stock valued at $315,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. UBS Group reaffirmed a "neutral" rating and set a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Barclays reiterated an "equal weight" rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Evercore ISI lowered their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. 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. According to data from MarketBeat, Skechers U.S.A. has a consensus rating of "Hold" and an average target price of $67.69.

Skechers U.S.A. Price Performance

SKX traded down $0.03 during midday trading on Monday, reaching $63.14. 3,389,274 shares of the company's stock were exchanged, compared to its average volume of 4,935,692. The business's 50-day moving average price is $62.40 and its 200 day moving average price is $61.35. The stock has a market capitalization of $9.44 billion, a PE ratio of 15.18 and a beta of 1.12. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28.

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

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.