Vaughan Nelson Investment Management L.P. Increases Position in Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 68.3% during the fourth quarter, HoldingsChannel reports. The firm owned 623,745 shares of the textile maker’s stock after purchasing an additional 253,045 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Skechers U.S.A. were worth $41,940,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SKX. Stephens Inc. AR bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $632,000. Empirical Finance LLC purchased a new stake in Skechers U.S.A. in the fourth quarter worth approximately $555,000. Empowered Funds LLC grew its position in Skechers U.S.A. by 7.0% during the fourth quarter. Empowered Funds LLC now owns 116,738 shares of the textile maker’s stock valued at $7,849,000 after acquiring an additional 7,657 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Skechers U.S.A. by 7,326.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 20,422 shares of the textile maker’s stock valued at $1,373,000 after acquiring an additional 20,147 shares during the last quarter. Finally, Tectonic Advisors LLC raised its stake in shares of Skechers U.S.A. by 9.0% during the fourth quarter. Tectonic Advisors LLC now owns 5,988 shares of the textile maker’s stock worth $403,000 after acquiring an additional 494 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

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

In other news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SKX. Piper Sandler started coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Barclays upped their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. TD Cowen increased their target price 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. Finally, Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $66.06 on Friday. The company has a market cap of $9.97 billion, a PE ratio of 15.92, a P/E/G ratio of 0.95 and a beta of 1.19. The business has a 50 day moving average of $70.55 and a 200 day moving average of $66.47. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current year.

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.