Skechers U.S.A., Inc. (NYSE:SKX) Stock Holdings Increased by Malaga Cove Capital LLC

Malaga Cove Capital LLC lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,934 shares of the textile maker’s stock after acquiring an additional 1,561 shares during the quarter. Malaga Cove Capital LLC’s holdings in Skechers U.S.A. were worth $2,553,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in Skechers U.S.A. during the first quarter valued at $25,000. Bessemer Group Inc. boosted its stake in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 164 shares during the period. Versant Capital Management Inc grew its holdings in shares of Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 618 shares during the last quarter. Game Plan Financial Advisors LLC acquired a new stake in shares of Skechers U.S.A. during the 1st quarter worth approximately $43,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Skechers U.S.A. in the 1st quarter worth approximately $45,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Price Performance

SKX opened at $66.01 on Tuesday. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $75.09. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $10.07 billion, a P/E ratio of 17.37, a PEG ratio of 0.91 and a beta of 1.23. The stock has a fifty day moving average of $65.57 and a 200-day moving average of $65.09.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Equities analysts forecast that Skechers U.S.A., Inc. will post 4.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 target price on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Barclays increased their price objective on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI boosted their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. TD Cowen raised their price target on shares of Skechers U.S.A. from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Wedbush lifted their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $76.75.

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 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.