Vontobel Holding Ltd. Increases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Vontobel Holding Ltd. increased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 130.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,190 shares of the textile maker's stock after purchasing an additional 6,335 shares during the quarter. Vontobel Holding Ltd.'s holdings in Skechers U.S.A. were worth $635,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Cerity Partners LLC lifted its holdings in Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after purchasing an additional 172 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the period. Independent Advisor Alliance grew its stake in Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after acquiring an additional 200 shares in the last quarter. X Square Capital LLC increased its holdings in Skechers U.S.A. by 0.5% during the 4th quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock worth $2,880,000 after acquiring an additional 210 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in Skechers U.S.A. by 4.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the textile maker's stock worth $315,000 after acquiring an additional 212 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Down 0.2%

SKX stock traded down $0.14 during midday trading on Wednesday, hitting $63.16. The company had a trading volume of 3,372,669 shares, compared to its average volume of 3,560,995. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock's 50 day moving average price is $61.51 and its 200 day moving average price is $61.49. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. Skechers U.S.A.'s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.33 earnings per share. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

SKX has been the subject of several analyst reports. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a report on Wednesday, May 28th. UBS Group restated a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price 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. Evercore ISI cut their price objective on 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. Finally, Wells Fargo & Company boosted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.69.

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.