By otakuyassine3@gmail.com 
Arizona State Retirement System boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,589 shares of the textile maker’s stock after purchasing an additional 466 shares during the period. Arizona State Retirement System’s holdings in Skechers U.S.A. were worth $2,595,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of SKX. Covestor Ltd lifted its position in Skechers U.S.A. by 18.8% during the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 265 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Skechers U.S.A. by 54.5% during the third quarter. Los Angeles Capital Management LLC now owns 14,120 shares of the textile maker’s stock valued at $945,000 after purchasing an additional 4,981 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Skechers U.S.A. by 120.6% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 71,320 shares of the textile maker’s stock valued at $4,773,000 after purchasing an additional 38,983 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Skechers U.S.A. by 22.3% during the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after purchasing an additional 25,289 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. Barclays lowered their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. TD Cowen raised their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Evercore ISI raised their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.
View Our Latest Analysis on SKX
Insider Buying and Selling
In related news, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,738 shares of company stock worth $14,700,809. Corporate insiders own 24.75% of the company’s stock.
Skechers U.S.A. Trading Down 7.0 %
Shares of SKX stock opened at $54.88 on Tuesday. Skechers U.S.A., Inc. has a 12-month low of $53.79 and a 12-month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $67.75 and its 200-day moving average price is $66.27. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.
See Also
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