Adams Diversified Equity Fund Inc. Lowers Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Adams Diversified Equity Fund Inc. cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 20.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 181,100 shares of the textile maker's stock after selling 46,200 shares during the period. 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 quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. raised its position in Skechers U.S.A. by 29.3% during the first quarter. GHP Investment Advisors Inc. now owns 26,402 shares of the textile maker's stock worth $1,499,000 after acquiring an additional 5,980 shares during the period. Whalen Wealth Management Inc. raised its position in shares of Skechers U.S.A. by 74.0% in the first quarter. Whalen Wealth Management Inc. now owns 6,633 shares of the textile maker's stock valued at $377,000 after buying an additional 2,822 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Skechers U.S.A. by 23.4% in the first quarter. Intact Investment Management Inc. now owns 25,300 shares of the textile maker's stock valued at $1,437,000 after buying an additional 4,800 shares during the last quarter. Praxis Investment Management Inc. acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at about $232,000. Finally, PFG Investments LLC raised its position in shares of Skechers U.S.A. by 28.3% in the first quarter. PFG Investments LLC now owns 5,059 shares of the textile maker's stock valued at $287,000 after buying an additional 1,116 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 0.4%

Shares of SKX traded up $0.24 during mid-day trading on Friday, reaching $63.07. The stock had a trading volume of 7,853,227 shares, compared to its average volume of 3,492,093. 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., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The business's fifty day moving average is $59.43 and its 200 day moving average is $61.79. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 15.16 and a beta of 1.13.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates 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 revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 earnings per share. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SKX shares. Morgan Stanley reiterated an "equal weight" rating and issued a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Barclays reiterated an "equal weight" rating and issued a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Wall Street Zen started coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They issued a "sell" rating for the company. Finally, Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.