Trexquant Investment LP Has $2.87 Million Stake in Skechers U.S.A., Inc. $SKX

Key Points

• Trexquant Investment LP has reduced its stake in Skechers U.S.A., Inc. by 7.6%, resulting in a total of 50,622 shares valued at approximately $2.87 million.
• Skechers U.S.A. reported quarterly earnings of $1.13 per share, exceeding analysts' expectations of $0.86, with revenues up 13.1% year-over-year.
• Analysts have downgraded Skechers' rating from "strong-buy" to "hold," with a consensus price target now set at $66.46.

Trexquant Investment LP decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,622 shares of the textile maker's stock after selling 4,140 shares during the period. Trexquant Investment LP's holdings in Skechers U.S.A. were worth $2,874,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. in the fourth quarter worth approximately $32,000. Parallel Advisors LLC increased its holdings in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after buying an additional 399 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Skechers U.S.A. in the first quarter worth approximately $35,000. Abound Financial LLC acquired a new position in Skechers U.S.A. in the first quarter worth approximately $35,000. Finally, Olde Wealth Management LLC acquired a new position in Skechers U.S.A. in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 0.1%

Shares of Skechers U.S.A. stock opened at $63.19 on Thursday. The stock has a market capitalization of $9.50 billion, a P/E ratio of 14.43 and a beta of 1.19. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $63.09 and a two-hundred day moving average price of $59.52. 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 quarterly earnings data 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. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Skechers U.S.A.'s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SKX. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Argus downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a report on Tuesday, August 26th. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a research report on Wednesday, May 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set 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 Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Skechers U.S.A. has an average 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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