Wealth Enhancement Advisory Services LLC Acquires 4,300 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Wealth Enhancement Advisory Services LLC increased its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 115.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,021 shares of the textile maker's stock after purchasing an additional 4,300 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Skechers U.S.A. were worth $539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Skechers U.S.A. during the 4th quarter valued at about $65,000. Stephens Inc. AR bought a new position in Skechers U.S.A. during the 4th quarter valued at about $632,000. Kestra Private Wealth Services LLC lifted its stake in Skechers U.S.A. by 58.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 6,501 shares of the textile maker's stock valued at $437,000 after acquiring an additional 2,405 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Skechers U.S.A. by 30.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,256 shares of the textile maker's stock valued at $4,052,000 after acquiring an additional 13,968 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in Skechers U.S.A. during the 4th quarter valued at about $326,000. Institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SKX shares. Wells Fargo & Company upped their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Raymond James lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Bank of America reduced their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Barclays reaffirmed an "equal weight" rating and set a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded down $0.21 during midday trading on Friday, reaching $62.50. 6,573,844 shares of the stock traded hands, compared to its average volume of 3,375,302. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $9.35 billion, a PE ratio of 15.06, a P/E/G ratio of 1.11 and a beta of 1.13. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company's 50 day moving average is $56.57 and its 200 day moving average is $62.16.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.