Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 197.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,827 shares of the textile maker's stock after purchasing 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 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its holdings in shares of Skechers U.S.A. by 4.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the textile maker's stock valued at $315,000 after buying an additional 212 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Skechers U.S.A. by 11.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,120 shares of the textile maker's stock valued at $2,765,000 after purchasing an additional 4,128 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in 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 valued at $29,000 after purchasing an additional 358 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Skechers U.S.A. during the fourth quarter worth approximately $1,836,000. Finally, LPL Financial LLC raised its stake in Skechers U.S.A. by 29.6% in the fourth quarter. LPL Financial LLC now owns 77,976 shares of the textile maker's stock valued at $5,243,000 after buying an additional 17,791 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Down 0.1%

Shares of NYSE SKX traded down $0.06 during midday trading on Friday, hitting $63.08. The company's stock had a trading volume of 2,640,258 shares, compared to its average volume of 3,199,797. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 15.16 and a beta of 1.12. The business's fifty day simple moving average is $62.66 and its two-hundred day simple moving average is $61.04. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates 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 company 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 earned $1.33 earnings per share. Skechers U.S.A.'s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Barclays reiterated an "equal weight" rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. TD Cowen lowered 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 report on Wednesday, May 28th. Wells Fargo & Company upped their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Hold" and a consensus target price 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.