Skechers U.S.A., Inc. (NYSE:SKX) Position Increased by Two Sigma Investments LP

Two Sigma Investments LP boosted its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 772.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,176,488 shares of the textile maker's stock after buying an additional 1,041,677 shares during the period. Two Sigma Investments LP owned 0.78% of Skechers U.S.A. worth $79,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SKX. Raymond James Financial Inc. acquired a new stake in Skechers U.S.A. during the 4th quarter worth about $12,852,000. Schroder Investment Management Group boosted its stake in Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after buying an additional 18,024 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Skechers U.S.A. in the 4th quarter valued at $5,804,000. Frontier Capital Management Co. LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter valued at approximately $17,589,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after acquiring an additional 15,874 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Trading Up 0.0%

Shares of Skechers U.S.A. stock traded up $0.03 during mid-day trading on Thursday, hitting $62.05. The stock had a trading volume of 5,810,545 shares, compared to its average volume of 3,125,604. The firm has a 50-day moving average of $54.21 and a two-hundred day moving average of $62.10. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. 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 market cap of $9.28 billion, a P/E 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 posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Skechers U.S.A.'s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

SKX has been the subject of several recent analyst reports. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Stifel Nicolaus cut their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. UBS Group reiterated a "neutral" rating and issued a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Finally, Bank of America cut their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $70.00.

Insiders Place Their Bets

In related news, General Counsel Phillip Paccione sold 10,994 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,486,542.24. Following the sale, the chief executive officer now owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,599 shares of company stock worth $7,099,910. 24.78% of the stock is owned by company 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.