Allianz Asset Management GmbH has increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 6.4% during the fourth quarter, as reported in its recent filing with the SEC. The fund now holds 30,412 shares of the textile maker’s stock, with a value of $1,896,000.

Alongside Allianz Asset Management GmbH, other major investors have also been actively trading SKX shares. Huntington National Bank saw an 861.7% growth in its position, now owning 577 shares valued at $28,000. DekaBank Deutsche Girozentrale entered the scene with a new stake in Skechers U.S.A. valued at $31,000 during the 3rd quarter. GAMMA Investing LLC and Planned Solutions Inc. acquired positions in the 4th quarter valued at $36,000 and $70,000, respectively. Meeder Asset Management Inc. also jumped in during the 4th quarter, purchasing shares worth $77,000.

Currently, 79.96% of Skechers U.S.A. stock is held by institutional investors.

Analyst Reports on SKX

SKX has been the subject of various research reports. Evercore ISI lowered their price target from $73.00 to $68.00, maintaining an ‘outperform’ rating. Barclays initiated coverage on Skechers U.S.A. with an ‘overweight’ rating and a $71.00 target price. Bank of America upgraded SKX from ‘neutral’ to ‘buy,’ increasing the price target from $71.00 to $87.00. Wedbush reiterated an ‘outperform’ rating with a $76.00 price target. TD Cowen raised their price target from $70.00 to $74.00, also giving a ‘buy’ rating.

MarketBeat.com data shows that Skechers U.S.A. currently holds an average rating of ‘Moderate Buy’ with an average price target of $69.42.

Latest Stock Performance

Skechers U.S.A. stock opened at $72.87 on F