Quantinno Capital Management LP Purchases 47,187 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Quantinno Capital Management LP lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 54.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,107 shares of the textile maker's stock after purchasing an additional 47,187 shares during the quarter. Quantinno Capital Management LP owned 0.09% of Skechers U.S.A. worth $9,017,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC boosted its stake 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 raised its holdings 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 acquiring an additional 358 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after purchasing an additional 317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. during the 4th quarter worth $65,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SKX. Barclays reissued an "equal weight" rating and issued a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Bank of America decreased their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Raymond James cut Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, StockNews.com assumed coverage on shares of Skechers U.S.A. in a report on Wednesday, May 14th. They issued a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Hold" and a consensus target price of $70.00.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock traded down $0.15 during mid-day trading on Monday, reaching $61.95. The company had a trading volume of 4,771,907 shares, compared to its average volume of 3,045,286. 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's 50-day simple moving average is $53.86 and its 200-day simple moving average is $62.11. 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 market capitalization of $9.27 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced 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 net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business earned $1.33 EPS. Skechers U.S.A.'s revenue for the quarter 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.

Insiders Place Their Bets

In other news, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the sale, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. The trade was a 31.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares of the company's stock, valued at approximately $849,450. The trade was a 42.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,645 shares of company stock worth $7,895,910. Insiders own 24.78% of the company's stock.

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.