40,500 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,500 shares of the textile maker’s stock, valued at approximately $2,723,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after buying an additional 358 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 239 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. during the 4th quarter valued at about $65,000. Finally, Brooklyn Investment Group purchased a new position in shares of Skechers U.S.A. during the third quarter valued at $67,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Up 4.2 %

NYSE:SKX opened at $58.42 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $8.73 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The business’s 50-day simple moving average is $65.30 and its 200-day simple moving average is $65.44.

Skechers U.S.A. (NYSE:SKX) last announced 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 13.73% and a net margin of 7.13%. Sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares of the company’s stock, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Evercore ISI increased their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. UBS Group dropped their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Raymond James reduced their price target on shares of 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. Finally, TD Cowen upped their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target of $80.42.

Skechers U.S.A. Company 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.