Universal Beteiligungs und Servicegesellschaft mbH Takes $2.59 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 45,690 shares of the textile maker's stock, valued at approximately $2,594,000.

A number of other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $32,000. Parallel Advisors LLC increased its holdings in Skechers U.S.A. by 183.0% during 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 stake in Skechers U.S.A. in the first quarter valued at $35,000. Finally, Abound Financial LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SKX shares. Evercore ISI lowered their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Morgan Stanley restated 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 note on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Price Performance

Shares of SKX stock traded down $0.27 on Friday, hitting $62.98. 7,925,479 shares of the company's stock were exchanged, compared to its average volume of 2,454,696. The company has a 50 day moving average of $62.77 and a 200 day moving average of $60.85. The stock has a market cap of $9.42 billion, a P/E ratio of 15.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. 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. 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.