Hudson Bay Capital Management LP Invests $5.80 Million in Skechers U.S.A., Inc. (NYSE:SKX)

Hudson Bay Capital Management LP bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 86,313 shares of the textile maker's stock, valued at approximately $5,804,000. Hudson Bay Capital Management LP owned 0.06% of Skechers U.S.A. as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Fund 1 Investments LLC purchased a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $231,000. Frontier Capital Management Co. LLC acquired a new position in Skechers U.S.A. during the fourth quarter valued at approximately $17,589,000. Clark Capital Management Group Inc. lifted its position in Skechers U.S.A. by 40.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 79,424 shares of the textile maker's stock valued at $5,340,000 after buying an additional 23,015 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Skechers U.S.A. by 5.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 77,761 shares of the textile maker's stock valued at $5,229,000 after buying an additional 4,257 shares in the last quarter. Finally, Dean Capital Management lifted its position in Skechers U.S.A. by 1.3% during the fourth quarter. Dean Capital Management now owns 18,948 shares of the textile maker's stock valued at $1,274,000 after buying an additional 240 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 0.0%

Shares of NYSE:SKX traded up $0.01 during midday trading on Friday, reaching $62.10. The company had a trading volume of 4,342,452 shares, compared to its average volume of 3,021,286. 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 fifty day simple moving average of $53.74 and a two-hundred day simple moving average of $62.10. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its 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. The company had revenue of $2.41 billion for 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 firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In related news, EVP Mark A. Nason sold 12,046 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the transaction, the executive vice president now directly owns 25,675 shares of the company's stock, valued at $1,696,604. This trade represents a 31.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 26,913 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $1,635,233.88. Following the transaction, the chief operating officer now owns 44,637 shares of the company's stock, valued at $2,712,144.12. This represents a 37.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,645 shares of company stock valued at $7,895,910. 24.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKX shares. Bank of America reduced their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Raymond James cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Evercore ISI cut their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $70.00.

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.