Quantbot Technologies LP Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Quantbot Technologies LP acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 41,324 shares of the textile maker’s stock, valued at approximately $2,532,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Skechers U.S.A. by 6,521.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock worth $90,804,000 after acquiring an additional 1,434,601 shares during the period. Norges Bank acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $75,194,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Skechers U.S.A. by 371.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after buying an additional 597,702 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in Skechers U.S.A. during the fourth quarter worth about $25,681,000. Finally, Goldman Sachs Group Inc. boosted its position in Skechers U.S.A. by 99.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock worth $51,385,000 after purchasing an additional 410,379 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SKX shares. Wells Fargo & Company began coverage on shares of Skechers U.S.A. in a report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $76.00 price target on shares of Skechers U.S.A. in a research note on Friday, May 17th. Evercore ISI dropped their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Stifel Nicolaus boosted their price objective on Skechers U.S.A. from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Insider Transactions at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now directly owns 35,000 shares of the company’s stock, valued at $2,430,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Up 0.4 %

NYSE:SKX traded up $0.24 during mid-day trading on Friday, hitting $68.14. The stock had a trading volume of 2,021,134 shares, compared to its average volume of 1,711,310. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The company has a market capitalization of $10.39 billion, a PE ratio of 17.97, a PEG ratio of 0.95 and a beta of 1.25. The stock has a 50-day simple moving average of $69.75 and a two-hundred day simple moving average of $63.89.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. Skechers U.S.A.’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 earnings per share. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Skechers U.S.A. Company 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.