Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 24.3% during the third quarter, HoldingsChannel.com reports. The fund owned 51,827 shares of the textile maker’s stock after purchasing an additional 10,122 shares during the quarter. Tidal Investments LLC’s holdings in Skechers U.S.A. were worth $3,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. in the third quarter valued at about $67,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at about $69,000. Finally, Blue Trust Inc. lifted its position in Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after acquiring an additional 887 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $70.35 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09. The business has a 50 day simple moving average of $64.10 and a 200-day simple moving average of $66.19.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SKX shares. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating on the stock. Bank of America cut their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Morgan Stanley raised their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.