Fund 1 Investments LLC Takes $231,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Fund 1 Investments LLC acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,438 shares of the textile maker’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. NewEdge Advisors LLC lifted its position in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. lifted its holdings 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 worth $46,000 after acquiring an additional 239 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Skechers U.S.A. by 62.4% during 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. purchased a new position in Skechers U.S.A. in the 4th quarter worth $65,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

SKX opened at $61.50 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The stock has a fifty day simple moving average of $53.40 and a two-hundred day simple moving average of $62.06. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Skechers U.S.A.’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SKX. Monness Crespi & Hardt cut Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday. Bank of America lowered their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Evercore ISI cut their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.00.

Insider Activity

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction on 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 transaction, the executive vice president now owns 25,675 shares in the company, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock worth $13,452,902. Insiders own 24.78% of the company’s stock.

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.