Polymer Capital Management HK LTD Cuts Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Polymer Capital Management HK LTD trimmed its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 52.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,700 shares of the textile maker’s stock after selling 36,000 shares during the period. Polymer Capital Management HK LTD’s holdings in Skechers U.S.A. were worth $2,188,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Skechers U.S.A. in the first quarter valued at approximately $203,000. Cetera Advisors LLC acquired a new stake in Skechers U.S.A. during the 1st quarter worth $600,000. GAMMA Investing LLC grew its holdings in shares of Skechers U.S.A. by 107.5% during the second quarter. GAMMA Investing LLC now owns 1,168 shares of the textile maker’s stock worth $81,000 after buying an additional 605 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Skechers U.S.A. by 26.2% in the second quarter. Park Avenue Securities LLC now owns 15,476 shares of the textile maker’s stock valued at $1,070,000 after buying an additional 3,214 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Skechers U.S.A. by 8.4% in the second quarter. CWM LLC now owns 10,186 shares of the textile maker’s stock worth $704,000 after buying an additional 788 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the topic of a number of research reports. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 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. Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating for the company. Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $69.17 on Wednesday. The company’s 50 day moving average is $63.53 and its two-hundred day moving average is $66.05. The firm has a market cap of $10.44 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.91 and a beta of 1.22. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-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, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. On average, research analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal 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.