Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. decreased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 20.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 181,100 shares of the textile maker's stock after selling 46,200 shares during the quarter. Adams Diversified Equity Fund Inc. owned about 0.12% of Skechers U.S.A. worth $10,283,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Skechers U.S.A. in the fourth quarter worth $12,852,000. Hudson Bay Capital Management LP purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at $5,804,000. Schroder Investment Management Group raised its stake in shares of Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after acquiring an additional 18,024 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth about $1,110,000. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth about $17,589,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.08 during midday trading on Wednesday, reaching $62.85. 4,654,463 shares of the stock were exchanged, compared to its average volume of 3,460,594. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $58.49 and a two-hundred day simple moving average of $61.90. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 15.11 and a beta of 1.13.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results 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. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $1.33 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Bank of America reduced their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wall Street Zen started coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They set a "sell" rating for the company. Morgan Stanley reaffirmed an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Finally, Barclays reiterated an "equal weight" rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of "Hold" and a consensus price target of $67.69.

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.