Y Intercept Hong Kong Ltd Acquires 17,793 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Y Intercept Hong Kong Ltd grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 197.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 26,827 shares of the textile maker's stock after acquiring an additional 17,793 shares during the period. Y Intercept Hong Kong Ltd's holdings in Skechers U.S.A. were worth $1,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC grew 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. TD Private Client Wealth LLC grew its holdings in shares of Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $32,000. Parallel Advisors LLC grew 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 period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Skechers U.S.A. during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 0.1%

SKX traded down $0.06 during trading on Friday, hitting $63.08. 2,640,258 shares of the company's stock traded hands, compared to its average volume of 4,768,900. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 15.16 and a beta of 1.12. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The company's 50 day simple moving average is $62.64 and its two-hundred day simple moving average is $61.14.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced 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. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the firm posted $1.33 earnings per share. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the topic of a number of research analyst reports. Raymond James Financial downgraded Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Stifel Nicolaus cut their price target 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. Morgan Stanley restated an "equal weight" rating and issued a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Evercore ISI cut their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group restated a "neutral" rating and issued a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus 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.