Skechers U.S.A., Inc. (NYSE:SKX) Position Reduced by Maverick Capital Ltd.

Maverick Capital Ltd. trimmed its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 72.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,336 shares of the textile maker’s stock after selling 19,761 shares during the quarter. Maverick Capital Ltd.’s holdings in Skechers U.S.A. were worth $491,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. boosted its stake in Skechers U.S.A. by 2.8% during the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after acquiring an additional 236 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Skechers U.S.A. during the 3rd quarter valued at $2,552,000. Blueshift Asset Management LLC bought a new position in Skechers U.S.A. during the 3rd quarter valued at $1,369,000. Glenmede Trust Co. NA lifted its position in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 144,971 shares of the textile maker’s stock worth $9,701,000 after buying an additional 4,265 shares during the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of Skechers U.S.A. by 39.9% in the 3rd quarter. Bridgewater Associates LP now owns 4,166 shares of the textile maker’s stock worth $279,000 after buying an additional 1,188 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SKX shares. Bank of America reduced their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. TD Cowen reduced 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 report on Monday, October 14th. Barclays raised their price target on shares of 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 shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Trading Up 0.2 %

Shares of NYSE:SKX opened at $63.82 on Monday. The company has a market cap of $9.64 billion, a PE ratio of 15.72, a P/E/G ratio of 0.89 and a beta of 1.23. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $63.39 and its 200 day moving average price is $66.06. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09.

Skechers U.S.A. (NYSE:SKX) last released its 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. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current 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.