Yousif Capital Management LLC Raises Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Yousif Capital Management LLC increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 64,770 shares of the textile maker’s stock after acquiring an additional 434 shares during the period. Yousif Capital Management LLC’s holdings in Skechers U.S.A. were worth $4,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Skechers U.S.A. during the 4th quarter worth approximately $36,000. Huntington National Bank lifted its position in Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. during the 3rd quarter worth approximately $31,000. Planned Solutions Inc. acquired a new position in Skechers U.S.A. during the 4th quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. acquired a new position in Skechers U.S.A. during the 4th quarter worth approximately $77,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wedbush boosted their price target on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus cut their target price on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Bank of America initiated coverage on Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 target price on the stock. Raymond James cut their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Finally, Monness Crespi & Hardt upped their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

Skechers U.S.A. Stock Performance

SKX stock opened at $65.39 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The firm has a market cap of $10.02 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.07 and a beta of 1.32. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $69.07. The stock’s 50 day simple moving average is $59.73 and its 200 day simple moving average is $58.04.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.23. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.76% and a net margin of 7.17%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 3.81 EPS for the current year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,875 shares of company stock valued at $15,021,192. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. 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.