Polymer Capital Management HK LTD Decreases Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Polymer Capital Management HK LTD cut its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 52.4% during the third quarter, Holdings Channel reports. The institutional investor owned 32,700 shares of the textile maker’s stock after selling 36,000 shares during the period. Polymer Capital Management HK LTD’s holdings in Skechers U.S.A. were worth $2,188,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc raised its position in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after acquiring an additional 173 shares in the last quarter. Lindenwold Advisors INC increased its stake in Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 195 shares during the last quarter. X Square Capital LLC raised its holdings in Skechers U.S.A. by 0.5% during the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after purchasing an additional 215 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Skechers U.S.A. by 2.8% during the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock worth $586,000 after buying an additional 236 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Skechers U.S.A. by 18.8% in the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after buying an additional 265 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SKX shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America cut their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.09.

Skechers U.S.A. Trading Up 5.4 %

NYSE:SKX opened at $69.17 on Wednesday. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock has a fifty day moving average price of $63.53 and a two-hundred day moving average price of $66.05. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.91 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

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.