Tectonic Advisors LLC Purchases 494 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Tectonic Advisors LLC raised its position in Skechers U.S.A., Inc. (NYSE:SKX) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,988 shares of the textile maker’s stock after buying an additional 494 shares during the quarter. Tectonic Advisors LLC’s holdings in Skechers U.S.A. were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $65,000. Blue Trust Inc. boosted its stake in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at approximately $67,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SKX has been the topic of a number of research analyst reports. Bank of America reduced 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 note on Friday, October 25th. TD Cowen lifted their target price 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. StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays lifted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.60.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $75.69 on Friday. The company has a fifty day moving average of $70.27 and a 200-day moving average of $66.39. The firm has a market capitalization of $11.43 billion, a P/E ratio of 18.64, a P/E/G ratio of 0.92 and a beta of 1.19. 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., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. As a group, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

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

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

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.