The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in these filings, which are based on their September 30 holdings, data that is available nowhere else. Should you consider Skechers USA Inc (NYSE:SKX) for your portfolio? We’ll look to this invaluable collective wisdom for the answer.
Skechers USA Inc (NYSE:SKX) shareholders have witnessed an increase in hedge fund interest lately. At the end of this article we will also compare SKX to other stocks including Gartner Inc (NYSE:IT), Williams-Sonoma, Inc. (NYSE:WSM), and Plum Creek Timber Co. Inc. (NYSE:PCL) to get a better sense of its popularity.
To the average investor there are a multitude of formulas stock traders put to use to evaluate publicly traded companies. A pair of the most underrated formulas are hedge fund and insider trading signals. We have shown that, historically, those who follow the top picks of the elite fund managers can beat the market by a solid amount (see the details here).
Now, let’s go over the fresh action regarding Skechers USA Inc (NYSE:SKX).
What have hedge funds been doing with Skechers USA Inc (NYSE:SKX)?
At Q3’s end, a total of 36 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 20% from the second quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, John Armitage’s Egerton Capital Limited has the largest position in Skechers USA Inc (NYSE:SKX), worth close to $118.8 million, comprising 1.3% of its total 13F portfolio. On Egerton Capital Limited’s heels is AQR Capital Management, led by Cliff Asness, holding a $78.9 million position; 0.2% of its 13F portfolio is allocated to the company. Remaining hedge funds and institutional investors that hold long positions contain Israel Englander’s Millennium Management, Jim Simons’ Renaissance Technologies and John Overdeck and David Siegel’s Two Sigma Advisors.