Barden Capital Management Inc. Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Barden Capital Management Inc. bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 1st quarter, HoldingsChannel.com reports. The firm bought 15,839 shares of the textile maker’s stock, valued at approximately $899,000.

Several other hedge funds have also modified their holdings of SKX. Norges Bank purchased a new stake in shares of Skechers U.S.A. during the fourth quarter valued at $105,741,000. Duquesne Family Office LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter valued at $72,272,000. Two Sigma Investments LP lifted its holdings in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock valued at $79,107,000 after purchasing an additional 1,041,677 shares during the last quarter. Anomaly Capital Management LP lifted its holdings in shares of Skechers U.S.A. by 51.2% during the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after purchasing an additional 1,011,815 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Down 0.0%

Shares of Skechers U.S.A. stock opened at $62.11 on Friday. The stock has a 50-day moving average price of $55.36 and a 200 day moving average price of $62.15. The company has a market cap of $9.29 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.11 and a beta of 1.13. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm posted $1.33 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SKX. Bank of America reduced their target price on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. UBS Group reissued a “neutral” rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Raymond James downgraded Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Hold” and a consensus price target of $67.69.

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.