Tidal Investments LLC Grows Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Tidal Investments LLC grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 506.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 314,101 shares of the textile maker's stock after purchasing an additional 262,274 shares during the period. Tidal Investments LLC owned approximately 0.21% of Skechers U.S.A. worth $21,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SKX. Assenagon Asset Management S.A. increased its position in shares of Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock valued at $8,069,000 after acquiring an additional 15,874 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Skechers U.S.A. by 13.0% during the fourth quarter. Park Avenue Securities LLC now owns 16,830 shares of the textile maker's stock valued at $1,132,000 after acquiring an additional 1,933 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $265,000. Kera Capital Partners Inc. bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $233,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $222,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded down $0.02 during mid-day trading on Wednesday, reaching $62.05. 9,445,039 shares of the company's stock traded hands, compared to its average volume of 3,106,591. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a 50 day moving average price of $54.21 and a two-hundred day moving average price of $62.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a market capitalization of $9.28 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity

In related news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 40,924 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the transaction, the chief executive officer now owns 51,342 shares in the company, valued at approximately $3,119,539.92. This trade represents a 44.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,599 shares of company stock valued at $7,099,910 in the last 90 days. Company insiders own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SKX. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group reissued a "neutral" rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Bank of America cut their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Barclays reaffirmed 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 report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $70.00.

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.