Malaga Cove Capital LLC Acquires 1,561 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Malaga Cove Capital LLC increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,934 shares of the textile maker’s stock after purchasing an additional 1,561 shares during the period. Malaga Cove Capital LLC’s holdings in Skechers U.S.A. were worth $2,553,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Skechers U.S.A. in the 4th quarter valued at $75,194,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Skechers U.S.A. by 62.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock valued at $75,534,000 after purchasing an additional 474,524 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $25,681,000. Goldman Sachs Group Inc. boosted its stake in Skechers U.S.A. by 99.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock valued at $51,385,000 after purchasing an additional 410,379 shares during the period. Finally, Coronation Fund Managers Ltd. grew its holdings in Skechers U.S.A. by 195.1% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 492,585 shares of the textile maker’s stock valued at $34,047,000 after buying an additional 325,653 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Down 0.1 %

SKX opened at $66.01 on Tuesday. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $75.09. The firm has a 50-day moving average price of $65.57 and a two-hundred day moving average price of $65.09. The stock has a market capitalization of $10.07 billion, a PE ratio of 17.37, a PEG ratio of 0.91 and a beta of 1.23. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and lifted their target price for the company from $71.00 to $87.00 in a research report on Friday, June 7th. Evercore ISI increased their target price on Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. TD Cowen boosted their price target on 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 upped their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.75.

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.