Vaughan Nelson Investment Management L.P. Sells 454,450 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 72.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169,295 shares of the textile maker's stock after selling 454,450 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.11% of Skechers U.S.A. worth $9,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. NewEdge Advisors LLC increased its position in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Skechers U.S.A. during the 4th quarter valued at $32,000. Parallel Advisors LLC lifted its holdings 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 worth $35,000 after acquiring an additional 399 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in Skechers U.S.A. during the first quarter valued at about $39,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Trading Down 0.0%

Shares of NYSE SKX traded down $0.02 during trading hours on Thursday, hitting $62.44. The company's stock had a trading volume of 4,930,079 shares, compared to its average volume of 3,422,047. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 15.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The business has a 50-day simple moving average of $57.39 and a 200-day simple moving average of $62.14.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. Skechers U.S.A.'s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SKX. UBS Group reiterated a "neutral" rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. TD Cowen cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a research report on Wednesday, May 28th. 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 report on Thursday, April 17th. Barclays reaffirmed an "equal weight" rating and set a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $67.69.

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.