Dynamic Technology Lab Private Ltd Takes $2.35 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Dynamic Technology Lab Private Ltd bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,044 shares of the textile maker’s stock, valued at approximately $2,345,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Seven Eight Capital LP lifted its position in Skechers U.S.A. by 126.1% during the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock worth $2,033,000 after acquiring an additional 16,408 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Skechers U.S.A. during the first quarter worth $600,000. Vista Investment Partners LLC purchased a new position in Skechers U.S.A. in the 2nd quarter valued at $925,000. First Hawaiian Bank acquired a new position in Skechers U.S.A. in the 2nd quarter valued at $673,000. Finally, Assenagon Asset Management S.A. increased its stake in Skechers U.S.A. by 36.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock valued at $13,365,000 after buying an additional 51,673 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 1.1 %

Skechers U.S.A. stock opened at $61.69 on Monday. Skechers U.S.A., Inc. has a fifty-two week low of $54.95 and a fifty-two week high of $75.09. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The stock’s fifty day moving average is $63.61 and its two-hundred day moving average is $66.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SKX. Deutsche Bank Aktiengesellschaft raised their target price 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 upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Bank of America dropped their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Morgan Stanley increased their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, TD Cowen decreased their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

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.