35,044 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 35,044 shares of the textile maker’s stock, valued at approximately $2,345,000.

Several other hedge funds also recently modified their holdings of SKX. Bessemer Group Inc. lifted its stake in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after purchasing an additional 173 shares during the period. Lindenwold Advisors INC boosted its holdings in shares of Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares during the last quarter. X Square Capital LLC grew its position in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after purchasing an additional 215 shares during the period. Finally, Covestor Ltd grew its position in shares of Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 265 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a report on Friday. They set a “hold” rating on the stock. StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. TD Cowen cut their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley boosted their price objective on shares of 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. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Up 1.1 %

Shares of NYSE SKX opened at $61.69 on Monday. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.86 and a beta of 1.23. Skechers U.S.A., Inc. has a 1 year low of $54.95 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock’s 50-day simple moving average is $63.61 and its 200-day simple moving average is $66.24.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal 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.