Pallas Capital Advisors LLC Has $202,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Pallas Capital Advisors LLC lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 37.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,557 shares of the textile maker’s stock after selling 2,158 shares during the period. Pallas Capital Advisors LLC’s holdings in Skechers U.S.A. were worth $202,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SKX. Norges Bank acquired a new stake in Skechers U.S.A. during the 4th quarter worth $105,741,000. Duquesne Family Office LLC bought a new position in shares of Skechers U.S.A. during the fourth quarter worth $72,272,000. Two Sigma Investments LP boosted its position 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 worth $79,107,000 after purchasing an additional 1,041,677 shares in the last quarter. Anomaly Capital Management LP boosted its position 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 worth $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 worth $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SKX shares. Evercore ISI reduced their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen started coverage on shares of Skechers U.S.A. in a research report on Thursday, May 22nd. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.69.

Skechers U.S.A. Stock Down 0.3%

Skechers U.S.A. stock opened at $62.50 on Friday. The firm has a market capitalization of $9.35 billion, a PE ratio of 15.06, a P/E/G ratio of 1.11 and a beta of 1.13. The company’s 50-day moving average is $56.57 and its 200-day moving average is $62.16. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 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.