Two Sigma Advisers LP Grows Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Two Sigma Advisers LP grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 381.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,081,800 shares of the textile maker's stock after buying an additional 856,900 shares during the period. Two Sigma Advisers LP owned 0.72% of Skechers U.S.A. worth $72,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Skechers U.S.A. during the fourth quarter valued at about $105,741,000. Duquesne Family Office LLC bought a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $72,272,000. Two Sigma Investments LP lifted its stake in shares of Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock valued at $79,107,000 after buying an additional 1,041,677 shares in the last quarter. Anomaly Capital Management LP lifted its stake in shares of Skechers U.S.A. by 51.2% during the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after buying an additional 953,528 shares during the period. Institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SKX shares. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Evercore ISI dropped their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. UBS Group reiterated a "neutral" rating and set a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, Raymond James downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. 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 company. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Hold" and an average price target of $70.00.

Skechers U.S.A. Price Performance

SKX stock opened at $61.95 on Tuesday. The firm has a 50 day simple moving average of $53.97 and a two-hundred day simple moving average of $62.10. The stock has a market cap of $9.27 billion, a PE ratio of 14.93, a P/E/G ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

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

Insider Transactions at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 40,924 shares of the 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 of the company's stock, valued at approximately $3,119,539.92. This trade represents a 44.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Greenberg sold 33,656 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the transaction, the president now owns 137,530 shares in the company, valued at approximately $8,356,322.80. The trade was a 19.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 117,599 shares of company stock worth $7,099,910. 24.78% of the stock is currently owned by corporate insiders.

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.

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