Capstone Investment Advisors LLC Buys 58,082 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Capstone Investment Advisors LLC boosted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 264.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,074 shares of the textile maker’s stock after buying an additional 58,082 shares during the period. Capstone Investment Advisors LLC owned approximately 0.05% of Skechers U.S.A. worth $4,905,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Skechers U.S.A. by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,626,633 shares of the textile maker’s stock valued at $787,144,000 after buying an additional 40,138 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in shares of Skechers U.S.A. by 3.5% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,893,529 shares of the textile maker’s stock valued at $180,383,000 after purchasing an additional 98,068 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Skechers U.S.A. by 6,521.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after purchasing an additional 1,434,601 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Skechers U.S.A. by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,269,306 shares of the textile maker’s stock worth $79,129,000 after buying an additional 16,146 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Skechers U.S.A. by 62.6% in the 1st 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 acquiring an additional 474,524 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America upgraded Skechers U.S.A. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $87.00 in a report on Friday, June 7th. Wells Fargo & Company assumed coverage on shares of Skechers U.S.A. in a research note on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target for the company. Stifel Nicolaus increased their price objective on Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Finally, Wedbush reissued an “outperform” rating and set a $76.00 target price on shares of Skechers U.S.A. in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.00.

Skechers U.S.A. Stock Down 1.6 %

Shares of NYSE:SKX traded down $1.08 during trading on Friday, reaching $66.24. 2,367,308 shares of the stock were exchanged, compared to its average volume of 1,851,865. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $75.09. The stock has a fifty day moving average of $69.63 and a two-hundred day moving average of $63.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.25.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, topping the consensus estimate of $1.10 by $0.23. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.08 earnings per share for the current fiscal year.

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.