Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Sendero Wealth Management LLC

Sendero Wealth Management LLC raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,483 shares of the textile maker's stock after purchasing an additional 4,332 shares during the period. Sendero Wealth Management LLC's holdings in Skechers U.S.A. were worth $936,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Spire Wealth Management increased its stake in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock worth $1,228,000 after purchasing an additional 157 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after acquiring an additional 172 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after purchasing an additional 200 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research analyst reports. UBS Group reissued a "neutral" rating and set a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Evercore ISI cut their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Raymond James cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $67.69.

Skechers U.S.A. Stock Performance

SKX stock traded down $0.03 during trading on Thursday, reaching $62.13. The company had a trading volume of 5,336,212 shares, compared to its average volume of 3,288,977. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. 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 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a 50-day simple moving average of $55.16 and a 200-day simple moving average of $62.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Skechers U.S.A. 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.