University of Texas Texas AM Investment Management Co. Makes New $798,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Key Points

• The University of Texas Texas AM Investment Management Co. has acquired a new stake in **Skechers U.S.A., Inc.**, purchasing 14,055 shares valued at approximately **$798,000**.

University of Texas Texas AM Investment Management Co. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 14,055 shares of the textile maker's stock, valued at approximately $798,000.

Several other institutional investors also recently bought and sold shares of SKX. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after acquiring an additional 190 shares during the period. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. during the fourth quarter worth about $32,000. Parallel Advisors LLC increased its stake 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 acquiring an additional 399 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Skechers U.S.A. during the 1st quarter worth approximately $35,000. Finally, Abound Financial LLC acquired a new stake in Skechers U.S.A. during the 1st quarter worth approximately $35,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

NYSE:SKX traded down $0.07 during midday trading on Thursday, reaching $63.18. 1,705,935 shares of the company traded hands, compared to its average volume of 4,706,521. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 15.19 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The company has a fifty day moving average price of $62.73 and a 200 day moving average price of $60.96.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SKX. Morgan Stanley reissued 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 report on Wednesday, May 7th. Barclays reiterated 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. Evercore ISI lowered their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a research report on Wednesday, May 28th. Finally, Wall Street Zen began coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $66.75.

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.