Fifth Third Wealth Advisors LLC holds $282,000 position in Skechers USA, Inc. (NYSE:SKX)

Fifth Third Wealth Advisors LLC bought a new stake in Skechers USA, Inc. (NYSE:SKX – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,074 shares of the textile maker’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also modified their holdings of SKX. Redmont Wealth Advisors LLC acquired a new position in shares of Skechers USA in the first quarter valued at about $25,000. Bessemer Group Inc. lifted its position in shares of Skechers USA by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 164 shares in the last quarter. GAMMA Investing LLC purchased a new position in Skechers USA in the 4th quarter valued at about $36,000. Game Plan Financial Advisors LLC bought a new stake in Skechers USA in the 1st quarter valued at $43,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Skechers USA by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after buying an additional 618 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s shares.

Price Performance Skechers USA

Shares of SKX traded up $0.07 on Thursday, reaching $67.75. 102,158 shares of the company exchanged hands, compared to its average volume of 1,768,586. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 0.90 and a beta of 1.25. Skechers USA, Inc. has a one year low of $45.58 and a one year high of $75.09. The company has a 50-day moving average price of $66.58 and a 200-day moving average price of $64.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33, and a current ratio of 2.06.

Skechers USA (NYSE:SKX – Get Your Free Report ) last announced its earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Skechers USA had a net margin of 6.90% and a return on equity of 13.04%. Skechers USA’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Equities research analysts forecast that Skechers USA, Inc. will post 4.17 earnings per share for the current fiscal year.

Analysts on Wall Street are forecasting an increase

Several research firms recently issued reports on SKX. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Skechers USA in a research note on Thursday, June 13th. TD Cowen boosted their price objective on Skechers USA from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley raised shares of Skechers USA from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $80.00 in a research report on Tuesday. July 23. Wedbush raised their price objective on shares of Skechers USA from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on Skechers USA from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Thirteen analysts have rated the stock with a buy rating. The company presently has a consensus rating of “Buy” and an average price target of $76.75, according to MarketBeat.

Read our latest report on SKX

Internal transactions at Skechers USA

In other Skechers USA news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Insiders own 24.75% of the company’s shares.

Skechers USA Profile

(Free Report)

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 the brands Skechers Hands Free Slip-ins, Skechers Arch Fit and Skechers Air-Cooled Memory Foam.

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