Brooklyn Investment Group Invests $67,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Brooklyn Investment Group bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,003 shares of the textile maker’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tidal Investments LLC grew its holdings in shares of Skechers U.S.A. by 8.7% during the first quarter. Tidal Investments LLC now owns 49,386 shares of the textile maker’s stock worth $3,025,000 after purchasing an additional 3,960 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at approximately $203,000. LRI Investments LLC purchased a new position in shares of Skechers U.S.A. during the first quarter worth approximately $102,000. Cetera Advisors LLC acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at $600,000. Finally, GAMMA Investing LLC increased its position in Skechers U.S.A. by 107.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,168 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 605 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America dropped 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 research note on Friday, October 25th. TD Cowen cut their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays boosted their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Needham & Company LLC began coverage on Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $63.71 on Friday. The stock has a market capitalization of $9.62 billion, a P/E ratio of 15.69, a PEG ratio of 0.88 and a beta of 1.23. 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 business’s fifty day moving average price is $63.38 and its 200 day moving average price is $66.14. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS 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 for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm posted $0.93 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Skechers U.S.A. 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.