Stephens Inc. AR Makes New $632,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Stephens Inc. AR bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, HoldingsChannel.com reports. The firm bought 9,392 shares of the textile maker’s stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKX. Sanctuary Advisors LLC raised its position in shares of Skechers U.S.A. by 88.1% during the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after purchasing an additional 13,836 shares during the period. Victory Capital Management Inc. boosted its position in Skechers U.S.A. by 22.3% during the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 25,289 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Skechers U.S.A. by 2,340.0% during the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after acquiring an additional 67,812 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after purchasing an additional 15,874 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now owns 54,499 shares of the company’s stock, valued at $3,418,177.28. This trade represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,093 shares of company stock worth $6,804,900. Company insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

SKX has been the topic of several analyst reports. Bank of America cut their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Raymond James reduced their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group dropped their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Trading Down 0.5 %

SKX stock opened at $63.99 on Friday. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a fifty day moving average price of $70.16 and a two-hundred day moving average price of $66.46. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

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.