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

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 45,690 shares of the textile maker's stock, valued at approximately $2,594,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd boosted its stake in shares of Skechers U.S.A. by 197.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 26,827 shares of the textile maker's stock worth $1,523,000 after buying an additional 17,793 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Skechers U.S.A. by 6.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 342,121 shares of the textile maker's stock worth $19,426,000 after buying an additional 22,000 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Skechers U.S.A. by 219.0% in the 1st quarter. IFP Advisors Inc now owns 2,632 shares of the textile maker's stock worth $149,000 after buying an additional 1,807 shares during the last quarter. Formidable Asset Management LLC boosted its stake in shares of Skechers U.S.A. by 4.3% in the 1st quarter. Formidable Asset Management LLC now owns 11,937 shares of the textile maker's stock worth $678,000 after buying an additional 494 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Skechers U.S.A. in the 1st quarter worth approximately $1,192,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the topic of a number of research analyst reports. Barclays restated an "equal weight" rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Stifel Nicolaus dropped their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group reiterated a "neutral" rating and issued a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of "Hold" and an average price target of $66.75.

Skechers U.S.A. Stock Performance

SKX stock traded down $0.27 during midday trading on Friday, reaching $62.98. 7,925,479 shares of the company's stock traded hands, compared to its average volume of 4,741,216. The firm has a market capitalization of $9.42 billion, a PE ratio of 15.14 and a beta of 1.12. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a 50-day moving average price of $62.75 and a two-hundred day moving average price of $60.91. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13.

About Skechers U.S.A.

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.