9,299 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Level Four Advisory Services LLC
Level Four Advisory Services LLC purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,299 shares of the textile maker’s stock, valued at approximately $490,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisors Asset Management Inc. bought a new position in Skechers U.S.A. during the first quarter valued at $25,000. Fred Alger Management LLC bought a new position in shares of Skechers U.S.A. during the 1st quarter worth approximately $26,000. Quent Capital LLC increased its position in shares of Skechers U.S.A. by 122.4% during the first quarter. Quent Capital LLC now owns 585 shares of the textile maker’s stock worth $28,000 after purchasing an additional 322 shares in the last quarter. Spire Wealth Management raised its stake in Skechers U.S.A. by 133.6% in the first quarter. Spire Wealth Management now owns 785 shares of the textile maker’s stock valued at $37,000 after buying an additional 449 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its position in shares of Skechers U.S.A. by 100.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 458 shares during the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently issued reports on SKX shares. Stifel Nicolaus raised their price objective on Skechers U.S.A. from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. StockNews.com began coverage on Skechers U.S.A. in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. UBS Group upped their price objective on shares of Skechers U.S.A. from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Raymond James upped their target price on Skechers U.S.A. from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Skechers U.S.A. from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.
View Our Latest Stock Analysis on Skechers U.S.A.
Skechers U.S.A. Price Performance
Skechers U.S.A. stock opened at $48.04 on Tuesday. The firm has a market cap of $7.43 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.33. The company has a quick ratio of 1.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a 52-week low of $31.28 and a 52-week high of $56.53. The company’s 50 day moving average is $51.24 and its two-hundred day moving average is $50.47.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.46. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.92 billion. Skechers U.S.A. had a net margin of 6.11% and a return on equity of 11.97%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. On average, research analysts expect that Skechers U.S.A., Inc. will post 3.39 EPS for the current fiscal year.
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 two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.
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