Skechers U.S.A., Inc. $SKX Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,729 shares of the textile maker’s stock after purchasing an additional 569 shares during the quarter. QRG Capital Management Inc.’s holdings in Skechers U.S.A. were worth $740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. HB Wealth Management LLC raised its holdings in Skechers U.S.A. by 4.3% in the first quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker’s stock valued at $233,000 after buying an additional 168 shares during the period. Cim LLC raised its holdings in Skechers U.S.A. by 0.9% in the first quarter. Cim LLC now owns 19,440 shares of the textile maker’s stock valued at $1,104,000 after buying an additional 169 shares during the period. National Bank of Canada FI raised its holdings in Skechers U.S.A. by 8.5% in the first quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker’s stock valued at $136,000 after buying an additional 189 shares during the period. PNC Financial Services Group Inc. raised its holdings in Skechers U.S.A. by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,551 shares of the textile maker’s stock valued at $429,000 after buying an additional 204 shares during the period. Finally, SageView Advisory Group LLC raised its holdings in Skechers U.S.A. by 2.6% in the first quarter. SageView Advisory Group LLC now owns 8,720 shares of the textile maker’s stock valued at $495,000 after buying an additional 224 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

SKX stock opened at $63.13 on Friday. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.49 billion, a P/E ratio of 14.41 and a beta of 1.19. The firm has a 50 day simple moving average of $63.09 and a 200-day simple moving average of $60.15.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities 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

SKX has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Zacks Research raised shares of Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Wall Street Zen raised shares of Skechers U.S.A. to a “hold” rating in a research report on Saturday, August 30th. Finally, Argus downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.46.

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.