United Asset Strategies Inc. Acquires New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

United Asset Strategies Inc. acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,991 shares of the textile maker’s stock, valued at approximately $1,496,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth about $1,587,000. Phocas Financial Corp. grew its stake in shares of Skechers U.S.A. by 81.0% during the fourth quarter. Phocas Financial Corp. now owns 120,590 shares of the textile maker’s stock worth $7,518,000 after acquiring an additional 53,981 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Skechers U.S.A. in the fourth quarter valued at approximately $1,798,000. Louisiana State Employees Retirement System acquired a new position in Skechers U.S.A. in the fourth quarter valued at approximately $2,338,000. Finally, Friedenthal Financial acquired a new position in Skechers U.S.A. in the fourth quarter valued at approximately $702,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SKX shares. Bank of America started coverage on Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Wedbush decreased their price target on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, February 2nd. Monness Crespi & Hardt boosted their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Barclays started coverage on Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target for the company. Finally, Evercore ISI started coverage on Skechers U.S.A. in a research note on Thursday, February 15th. They set an “outperform” rating and a $73.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.58.

Skechers U.S.A. Stock Up 1.6 %

NYSE SKX opened at $57.40 on Wednesday. The business has a fifty day moving average price of $59.75 and a 200 day moving average price of $57.59. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $65.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The company has a market cap of $8.80 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.02 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.04. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. Research analysts anticipate that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $58.83, for a total value of $378,394.56. Following the completion of the sale, the executive vice president now directly owns 34,023 shares in the company, valued at approximately $2,001,573.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the transaction, the chief executive officer now directly owns 196,050 shares in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $58.83, for a total value of $378,394.56. Following the transaction, the executive vice president now owns 34,023 shares of the company’s stock, valued at $2,001,573.09. The disclosure for this sale can be found here. Insiders sold a total of 254,875 shares of company stock worth $15,021,192 in the last three months. 24.79% of the stock is owned by corporate insiders.

About Skechers U.S.A.

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.