Independent Advisor Alliance acquires shares of 5,547 Skechers USA, Inc. (NYSE: SKX)


Independent Advisor Alliance acquired a new stake in the shares of Skechers USA, Inc. (NYSE: SKX – Get Rating) during the first quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,547 shares of the textile maker, valued at around $226,000.

A number of other hedge funds and other institutional investors have also increased or reduced their stakes in the stock. Fifth Third Bancorp increased its position in Skechers USA by 79.3% during the first quarter. Fifth Third Bancorp now owns 710 shares of the textile maker valued at $29,000 after buying an additional 314 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Skechers USA by 5.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,480 shares of the textile maker valued at $325,000 after buying 394 additional shares during the period. Rothschild Investment Corp IL increased its position in Skechers USA by 5.6% during the first quarter. Rothschild Investment Corp IL now owns 7,893 shares of the textile maker valued at $322,000 after buying 416 additional shares during the period. Cim LLC increased its position in Skechers USA by 1.8% during the first quarter. Cim LLC now owns 23,977 shares of the textile maker valued at $908,000 after purchasing an additional 430 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Skechers USA shares by 1.7% in the first quarter. The Louisiana State Employees Retirement System now owns 35,300 shares of the textile maker worth $1,454,000 after purchasing an additional 600 shares during the period. 79.71% of the shares are currently held by hedge funds and other institutional investors.

Changes to analyst ratings

Several brokerages have recently published reports on SKX. Berenberg Bank reissued a “buy” rating and posted a price target of $71.00 on Skechers USA shares in a research note on Tuesday, May 17. Monness Crespi & Hardt cut its price target on Skechers USA to $50.00 and set an “outperform” rating for the company in a Wednesday July 27 report. Argus upgraded Skechers USA from a “hold” to a “buy” rating and set a target price of $44.00 for the company in a Wednesday June 15 research note. Morgan Stanley cut its price target on Skechers USA from $62.00 to $59.00 and set an “overweight” rating for the company in a Wednesday July 27 research note. Finally, Cowen reduced his price target on Skechers USA to $39.00 and set an “outperform” rating for the company in a Monday, July 25 research note. One equity research analyst gave the stock a hold rating and ten gave the stock a buy rating. Based on data from MarketBeat.com, Skechers USA has an average rating of “Moderate Buy” and an average target price of $51.89.

Skechers USA down 0.1%

Skechers USA shares opened at $39.33 on Monday. The stock has a market capitalization of $6.14 billion, a P/E ratio of 8.61 and a beta of 1.30. The stock’s 50-day simple moving average is $37.84 and its 200-day simple moving average is $39.66. Skechers USA, Inc. has a 1 year minimum of $33.50 and a 1 year maximum of $54.45. The company has a debt ratio of 0.07, a current ratio of 2.34 and a quick ratio of 1.31.

Profile of Skechers USA

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Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women worldwide. The Company operates through three segments: Domestic Wholesale, International Wholesale and Direct-to-Consumer. It offers casual, athletic casual, athletic, trail shoes, sandals, boots and retro fashion shoes for men and women under the brands Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS; sneakers, casual shoes, boots and sandals for boys and girls under the brands Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.

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Institutional ownership by quarter for Skechers USA (NYSE:SKX)



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