Is Skechers USA Inc (SKX) A Good Stock To Buy?

Consequently, specific money managers have jumped into Skechers USA Inc (NYSE:SKX) headfirst. PDT Partners, managed by Peter Muller, established the biggest position in Skechers USA Inc (NYSE:SKX). PDT Partners had $15.3 million invested in the company at the end of the quarter. David Keidan’s Buckingham Capital Management also made a $12.8 million investment in the stock during the quarter. The following funds were also among the new SKX investors: Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners, Israel Englander’s Millennium Management, and Chao Ku’s Nine Chapters Capital Management.

Let’s now review hedge fund activity in other stocks similar to Skechers USA Inc (NYSE:SKX). These stocks are Gartner Inc (NYSE:IT), Williams-Sonoma, Inc. (NYSE:WSM), Plum Creek Timber Co. Inc. (NYSE:PCL), and Franco-Nevada Corporation (NYSE:FNV). This group of stocks’ market caps resemble SKX’s market cap.

As you can see these stocks had an average of 17.75 hedge funds with bullish positions and the average amount invested in these stocks was $442 million. That figure was $600 million in SKX’s case. Williams-Sonoma, Inc. (NYSE:WSM) is the most popular stock in this table. On the other hand Franco-Nevada Corporation (NYSE:FNV) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks Skechers USA Inc (NYSE:SKX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.