Guggenheim Capital LLC Purchases New Holdings in Skechers USA Inc (NYSE:SKX)

Guggenheim Capital LLC purchased a new stake in shares of Skechers USA Inc (NYSE:SKX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 107,105 shares of the textile maker’s stock, valued at approximately $4,626,000.

Other large investors have also recently modified their holdings of the company. NEXT Financial Group Inc grew its holdings in Skechers USA by 75.0% during the 4th quarter. NEXT Financial Group Inc now owns 700 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Sowell Financial Services LLC grew its holdings in Skechers USA by 8,333.3% during the 4th quarter. Sowell Financial Services LLC now owns 1,012 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 1,000 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in Skechers USA during the 4th quarter valued at about $52,000. First Mercantile Trust Co. grew its holdings in Skechers USA by 7.5% during the 4th quarter. First Mercantile Trust Co. now owns 4,058 shares of the textile maker’s stock valued at $175,000 after purchasing an additional 284 shares during the last quarter. Finally, Greenleaf Trust bought a new position in Skechers USA during the 4th quarter valued at about $204,000. Institutional investors own 75.79% of the company’s stock.

Several equities analysts recently commented on SKX shares. Wells Fargo & Co cut their price target on shares of Skechers USA from $43.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday, March 16th. UBS Group cut their price target on shares of Skechers USA from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley cut their price target on shares of Skechers USA from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. ValuEngine upgraded shares of Skechers USA from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, B. Riley lowered their price objective on shares of Skechers USA from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.46.

Skechers USA stock opened at $24.60 on Thursday. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 0.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.28 and a quick ratio of 1.41. Skechers USA Inc has a 1 year low of $17.06 and a 1 year high of $44.50. The firm has a 50-day moving average of $31.98 and a two-hundred day moving average of $37.46.

Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Skechers USA had a net margin of 6.64% and a return on equity of 14.82%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. Research analysts expect that Skechers USA Inc will post 2.45 earnings per share for the current year.

Skechers USA Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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