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

Key Points

• Osterweis Capital Management Inc. increased its stake in Skechers U.S.A. by 22.9%, owning 215,130 shares worth approximately $12.2 million as of the end of the last quarter.
• Other hedge funds have significantly increased their investments in Skechers, with Victory Capital Management's stake rising by an astonishing 15,774.3% and Two Sigma Investments increasing by 772.7%.
• Skechers reported $1.13 earnings per share for the last quarter, surpassing analysts' expectations of $0.86, and achieved a revenue of $2.44 billion, reflecting a 13.1% year-over-year increase.

Osterweis Capital Management Inc. raised its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 22.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 approximately 0.14% of Skechers U.S.A. worth $12,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SKX. Victory Capital Management Inc. increased its position in shares of Skechers U.S.A. by 15,774.3% in the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after acquiring an additional 3,924,962 shares during the period. Duquesne Family Office LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter worth approximately $72,272,000. Two Sigma Investments LP lifted its position 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 valued at $79,107,000 after purchasing an additional 1,041,677 shares during the period. Anomaly Capital Management LP increased its holdings in Skechers U.S.A. by 51.2% during the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after buying an additional 1,011,815 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings 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 valued at $72,740,000 after buying an additional 856,900 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Raymond James Financial cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Wells Fargo & Company increased their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Barclays reaffirmed an "equal weight" rating and set a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $66.75.

Skechers U.S.A. Stock Down 0.0%

NYSE SKX traded down $0.0050 during trading on Friday, reaching $62.9950. 2,202,344 shares of the company's stock traded hands, compared to its average volume of 3,062,563. 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 firm has a market cap of $9.47 billion, a price-to-earnings ratio of 14.38 and a beta of 1.16. The company's 50 day simple moving average is $63.01 and its two-hundred day simple moving average is $59.74. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

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

Skechers U.S.A. Company 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.