Skechers U.S.A., Inc. $SKX is Bwcp LP's 5th Largest Position

Key Points

• Bwcp LP increased its stake in Skechers U.S.A., Inc. by 16.2% in the first quarter, making it the company's 5th largest position with 438,221 shares.
• Skechers reported earnings of $1.13 EPS for the quarter, exceeding analyst estimates of $0.86, alongside a revenue of $2.44 billion, which is a 13.1% year-over-year increase.
• The average price target for Skechers stock is $66.46, with a consensus rating of "Hold" from analysts following the company.

Bwcp LP lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,221 shares of the textile maker's stock after acquiring an additional 61,197 shares during the quarter. Skechers U.S.A. makes up 5.0% of Bwcp LP's holdings, making the stock its 5th biggest holding. Bwcp LP owned about 0.29% of Skechers U.S.A. worth $24,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV bought a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $32,000. Parallel Advisors LLC lifted its position in shares of Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after acquiring an additional 399 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter valued at $35,000. Abound Financial LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter valued at $35,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter valued at $37,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on SKX. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. Argus downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a report on Tuesday, August 26th. Wall Street Zen upgraded Skechers U.S.A. to a "hold" rating in a report on Saturday, August 30th. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research report on Wednesday, May 28th. Finally, Zacks Research raised Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and an average target price of $66.46.

Skechers U.S.A. Price Performance

NYSE SKX traded up $0.01 during trading on Monday, reaching $63.23. The company's stock had a trading volume of 260,848 shares, compared to its average volume of 4,425,894. The firm has a fifty day moving average of $63.10 and a 200 day moving average of $59.40. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The stock has a market capitalization of $9.50 billion, a PE ratio of 14.43 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.27. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.Skechers U.S.A.'s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. Analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.