Aigen Investment Management LP Has $963,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Aigen Investment Management LP lowered its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 80.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,389 shares of the textile maker’s stock after selling 58,392 shares during the period. Aigen Investment Management LP’s holdings in Skechers U.S.A. were worth $963,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Coronation Fund Managers Ltd. boosted its position in Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after buying an additional 394,618 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $22,425,000. Teachers Retirement System of The State of Kentucky grew its position in Skechers U.S.A. by 646.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker’s stock worth $22,348,000 after acquiring an additional 280,000 shares during the last quarter. Adams Diversified Equity Fund Inc. bought a new position in Skechers U.S.A. in the third quarter valued at about $16,790,000. Finally, Bwcp LP acquired a new stake in shares of Skechers U.S.A. during the second quarter valued at about $16,324,000. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush lifted their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Bank of America reduced their price objective on shares of 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. Morgan Stanley lifted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus increased their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.09.

Skechers U.S.A. Price Performance

Shares of SKX opened at $60.79 on Wednesday. The firm has a market cap of $9.18 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. Skechers U.S.A., Inc. has a 52-week low of $49.08 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The business’s 50 day moving average price is $64.61 and its two-hundred day moving average price is $66.58.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 EPS. On average, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Skechers U.S.A. declared that its board has authorized a share buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Skechers U.S.A. Company 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.