Skechers U.S.A., Inc. $SKX Shares Bought by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. increased its stake in Skechers U.S.A. by 22.9% during the first quarter, owning 0.14% of the company valued at approximately $12.2 million.
• Several institutional investors significantly expanded their holdings in Skechers U.S.A., with Victory Capital Management increasing its stake by an astonishing 15,774.3%, now holding shares worth $224.3 million.
• Skechers reported earnings per share of $1.13 for the last quarter, surpassing analysts' expectations and showing a revenue increase of 13.1% compared to the same period last year.

Osterweis Capital Management Inc. boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 215,130 shares of the textile maker's stock after acquiring an additional 40,155 shares during the quarter. Osterweis Capital Management Inc. owned about 0.14% of Skechers U.S.A. worth $12,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKX. Victory Capital Management Inc. increased its stake in Skechers U.S.A. by 15,774.3% during the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Two Sigma Investments LP increased its stake in Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after acquiring an additional 1,041,677 shares during the last quarter. Two Sigma Advisers LP increased its stake in Skechers U.S.A. by 381.0% during the fourth quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after acquiring an additional 856,900 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at $34,525,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Skechers U.S.A. by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock valued at $158,739,000 after buying an additional 583,733 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

SKX stock opened at $63.16 on Friday. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09. The stock's 50 day moving average price is $63.11 and its 200 day moving average price is $59.46. The firm has a market cap of $9.49 billion, a P/E ratio of 14.42 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

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

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.

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