ING Groep NV Acquires 63,800 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

ING Groep NV raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 70.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 154,900 shares of the textile maker’s stock after buying an additional 63,800 shares during the period. ING Groep NV’s holdings in Skechers U.S.A. were worth $10,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ieq Capital LLC bought a new stake in Skechers U.S.A. during the fourth quarter valued at about $1,695,000. Alberta Investment Management Corp raised its holdings in Skechers U.S.A. by 9.3% during the fourth quarter. Alberta Investment Management Corp now owns 15,794 shares of the textile maker’s stock valued at $1,062,000 after acquiring an additional 1,341 shares during the period. Bfsg LLC raised its holdings in Skechers U.S.A. by 1,519.6% during the fourth quarter. Bfsg LLC now owns 101,487 shares of the textile maker’s stock valued at $6,824,000 after acquiring an additional 95,221 shares during the period. Kestra Investment Management LLC increased its holdings in shares of Skechers U.S.A. by 33.8% in the fourth quarter. Kestra Investment Management LLC now owns 18,609 shares of the textile maker’s stock worth $1,251,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Skechers U.S.A. by 296.1% in the fourth quarter. Venturi Wealth Management LLC now owns 3,422 shares of the textile maker’s stock worth $230,000 after purchasing an additional 2,558 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Down 0.4 %

SKX opened at $65.70 on Friday. The firm has a market cap of $9.92 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.12 and a beta of 1.19. Skechers U.S.A., Inc. has a 12 month low of $55.67 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 has a 50-day moving average of $69.69 and a 200 day moving average of $66.53.

Skechers U.S.A. (NYSE:SKX) last announced 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 net margin of 7.13% and a return on equity of 13.73%. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI lifted their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley lifted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Bank of America reduced their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Barclays reduced their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 54,499 shares in the company, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark A. Nason sold 12,046 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the transaction, the executive vice president now owns 25,675 shares of the company’s stock, valued at $1,696,604. This trade represents a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,139 shares of company stock worth $7,600,899 over the last 90 days. Company insiders own 24.75% of the company’s stock.

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.