Algert Global LLC Purchases 85,598 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Algert Global LLC increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 167.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,603 shares of the textile maker’s stock after buying an additional 85,598 shares during the quarter. Algert Global LLC owned 0.09% of Skechers U.S.A. worth $9,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKX. Pacer Advisors Inc. boosted its position in Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after acquiring an additional 2,594,507 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Skechers U.S.A. by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after purchasing an additional 55,095 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the last quarter. Coronation Fund Managers Ltd. grew its position in Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after purchasing an additional 394,618 shares in the last quarter. Finally, Commerce Bank increased its stake in Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after buying an additional 423,204 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research report on Friday. They set a “hold” rating for the company. Wedbush raised their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. TD Cowen dropped their price objective on 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, Stifel Nicolaus raised their target price on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $78.09.

Skechers U.S.A. Trading Up 1.1 %

SKX stock opened at $61.69 on Friday. Skechers U.S.A., Inc. has a one year low of $54.95 and a one year high of $75.09. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a fifty day moving average price of $63.61 and a two-hundred day moving average price of $66.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate 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%. Skechers U.S.A.’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

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.