Sendero Wealth Management LLC Buys 4,332 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Sendero Wealth Management LLC raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SKX. Raymond James Financial Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $12,852,000. Hudson Bay Capital Management LP purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $5,804,000. Schroder Investment Management Group lifted its position in shares of Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after acquiring an additional 18,024 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $1,110,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $17,589,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Down 0.0%

Skechers U.S.A. stock traded down $0.03 during trading hours on Friday, hitting $62.11. 4,384,671 shares of the stock traded hands, compared to its average volume of 3,306,750. The firm's 50-day moving average price is $55.36 and its two-hundred day moving average price is $62.14. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.29 billion, a PE ratio of 14.97, a PEG ratio of 1.11 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.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SKX. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Bank of America lowered their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Wall Street Zen assumed coverage on Skechers U.S.A. in a research report on Thursday, May 22nd. They issued a "sell" rating on the stock. Finally, Evercore ISI lowered their price target 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $67.69.

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.