8,741 Shares in Skechers U.S.A., Inc. $SKX Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 8,741 shares of Skechers U.S.A., Inc., valued at approximately $498,000, in the first quarter.
• Several institutional investors, including HB Wealth Management LLC and National Bank of Canada, have recently increased their holdings in Skechers, reflecting a growing interest in the company.
• Skechers reported $1.13 EPS for the last quarter, exceeding analyst expectations of $0.86, with revenue of $2.44 billion, indicating a year-over-year increase of 13.1%.

United Services Automobile Association acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,741 shares of the textile maker's stock, valued at approximately $498,000.

A number of other institutional investors also recently bought and sold shares of SKX. Banque Transatlantique SA bought a new stake in Skechers U.S.A. during the first quarter valued at about $26,000. Investment Management Corp VA ADV purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $32,000. Parallel Advisors LLC lifted its position in shares of Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after buying an additional 399 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Skechers U.S.A. during the 1st quarter valued at approximately $35,000. Finally, Abound Financial LLC purchased a new stake in Skechers U.S.A. in the 1st quarter worth approximately $35,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SKX. Wall Street Zen upgraded shares of Skechers U.S.A. to a "hold" rating in a research note on Saturday, August 30th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. TD Cowen 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 research report on Wednesday, May 28th. Zacks Research upgraded Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, Argus downgraded Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research note on Tuesday, August 26th. 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.46.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX remained flat at $63.13 during mid-day trading on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The company has a market cap of $9.49 billion, a P/E ratio of 14.41 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 $63.10 and its 200-day moving average price is $59.44.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal 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.