XTX Topco Ltd purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 29,599 shares of the textile maker’s stock, valued at approximately $2,046,000.
Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Skechers U.S.A. by 17.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,260 shares of the textile maker’s stock worth $328,000 after purchasing an additional 783 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Skechers U.S.A. by 11.6% in the fourth quarter. Panagora Asset Management Inc. now owns 5,716 shares of the textile maker’s stock valued at $356,000 after buying an additional 594 shares in the last quarter. Norges Bank purchased a new stake in Skechers U.S.A. during the 4th quarter worth about $75,194,000. Wells Fargo & Company MN boosted its position in shares of Skechers U.S.A. by 50.4% during the 4th quarter. Wells Fargo & Company MN now owns 157,416 shares of the textile maker’s stock worth $9,813,000 after acquiring an additional 52,754 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $2,114,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.
Skechers U.S.A. Price Performance
Shares of NYSE:SKX opened at $61.55 on Friday. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $75.09. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.94 and a beta of 1.23. The company has a 50-day simple moving average of $65.41 and a 200-day simple moving average of $65.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06.
Analyst Ratings Changes
Several research firms recently weighed in on SKX. Morgan Stanley upgraded Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $80.00 in a research note on Tuesday, July 23rd. Stifel Nicolaus boosted their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. 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. TD Cowen boosted 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 report on Monday, July 22nd. Finally, Wedbush raised their price objective on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Buy” and a consensus price target of $78.36.
Get Our Latest Stock Report on Skechers U.S.A.
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.
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