Skechers Skyrockets to 401st in $260M Trading Volume as Shares Dip Despite Record Earnings and 13.1% Revenue Surge

Skechers U.S.A. (NYSE:SKX) saw a 69.18% surge in trading volume to $260 million on August 15, ranking it 401st in market activity. The stock closed down 0.05% despite a 13.1% year-over-year revenue increase in its latest quarter and a $1.13 earnings-per-share result that beat analyst estimates by $0.27.

Institutional investors reshaped their holdings in the footwear maker. Coronation Fund Managers Ltd. significantly boosted its stake by 212% in the first quarter, increasing ownership to 797,248 shares (2.4% of its portfolio). Conversely, Swiss National Bank reduced its position by 2.5%, holding 254,900 shares valued at $14.5 million. Parallel Advisors LLC and NewEdge Advisors LLC also made notable additions to their SKX holdings during the first and fourth quarters.

Analyst sentiment remained mixed but largely neutral. TD Cowen downgraded the stock to "Hold" with a $63 target price, while Wells Fargo raised its target to $63 with an "Overweight" rating. Morgan Stanley maintained an "Equal Weight" recommendation, adjusting its target price downward from $73 to $63. The consensus rating remains "Hold" with an average price target of $66.75, reflecting cautious optimism about the company’s performance amid competitive market conditions.

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