Nordea Investment Management AB bought a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 69,400 shares of the textile maker’s stock, valued at approximately $2,047,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SKX. Kennedy Capital Management Inc. grew its holdings in shares of Skechers U.S.A. by 20.5% in the second quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock valued at $18,974,000 after acquiring an additional 109,441 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Skechers U.S.A. by 94.5% during the second quarter. BNP Paribas Arbitrage SA now owns 58,963 shares of the textile maker’s stock valued at $1,739,000 after acquiring an additional 28,646 shares during the last quarter. Aristotle Fund L.P. increased its position in shares of Skechers U.S.A. by 8.2% during the second quarter. Aristotle Fund L.P. now owns 519,700 shares of the textile maker’s stock valued at $15,331,000 after acquiring an additional 39,200 shares during the last quarter. BlackRock Inc. increased its position in shares of Skechers U.S.A. by 3,136.5% during the first quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock valued at $307,170,000 after acquiring an additional 10,844,421 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Skechers U.S.A. by 3.8% during the second quarter. Principal Financial Group Inc. now owns 568,669 shares of the textile maker’s stock valued at $16,776,000 after acquiring an additional 20,829 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company’s stock.

A number of analysts recently commented on the company. Vetr lowered Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $27.28 price target on the stock. in a report on Monday, June 5th. UBS AG upgraded Skechers U.S.A. from a “neutral” rating to a “positive” rating in a research note on Monday, June 5th. Susquehanna Bancshares Inc upgraded Skechers U.S.A. from a “neutral” rating to a “positive” rating and upped their price objective for the company from $25.00 to $32.00 in a research note on Monday, June 5th. Morgan Stanley raised their target price on Skechers U.S.A. from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Finally, BidaskClub raised Skechers U.S.A. from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.93.

ILLEGAL ACTIVITY WARNING: This report was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.watchlistnews.com/nordea-investment-management-ab-buys-new-position-in-skechers-u-s-a-inc-skx/1605157.html.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 38.20% of the stock is currently owned by corporate insiders.

Skechers U.S.A., Inc. (NYSE SKX) opened at 24.58 on Tuesday. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 17.05 and a beta of 0.19. The firm’s 50-day moving average is $26.23 and its 200-day moving average is $26.68. Skechers U.S.A., Inc. has a 12 month low of $18.81 and a 12 month high of $30.00.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $966.46 million. During the same period in the previous year, the firm earned $0.48 EPS. The business’s revenue was up 16.9% on a year-over-year basis. On average, analysts anticipate that Skechers U.S.A., Inc. will post $1.57 EPS for the current fiscal year.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX).

Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

Receive News & Ratings for Skechers U.S.A. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.