Trexquant Investment LP Sells 4,140 Shares of 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 lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,622 shares of the textile maker's stock after selling 4,140 shares during the quarter. Trexquant Investment LP's holdings in Skechers U.S.A. were worth $2,874,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Skechers U.S.A. by 49.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 90,309 shares of the textile maker's stock valued at $5,192,000 after buying an additional 30,053 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Skechers U.S.A. by 130.5% during the first quarter. Vontobel Holding Ltd. now owns 11,190 shares of the textile maker's stock worth $635,000 after acquiring an additional 6,335 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $5,804,000. Praxis Investment Management Inc. bought a new position in shares of Skechers U.S.A. during the first quarter worth about $232,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $1,110,000. Institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of a number of analyst reports. 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 research report on Tuesday, August 26th. Wall Street Zen upgraded Skechers U.S.A. to a "hold" rating in a research report on Saturday, August 30th. Zacks Research upgraded Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. TD Cowen 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 research report on Wednesday, May 28th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Skechers U.S.A. has a consensus rating of "Hold" and a consensus price target of $66.46.

Skechers U.S.A. Trading Down 0.0%

SKX stock traded down $0.03 during mid-day trading on Tuesday, reaching $63.23. The company's stock had a trading volume of 695,173 shares, compared to its average volume of 4,407,417. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 14.43 and a beta of 1.19. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The business's 50 day moving average price is $63.11 and its 200 day moving average price is $59.40. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.