Ieq Capital LLC Takes $1.70 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Ieq Capital LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, Holdings Channel.com reports. The fund bought 25,210 shares of the textile maker’s stock, valued at approximately $1,695,000.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Skechers U.S.A. by 52.9% during 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. bought a new stake in shares of Skechers U.S.A. during the 4th quarter valued at about $65,000. Blue Trust Inc. grew its stake in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Skechers U.S.A. in the third quarter worth approximately $67,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $63.01 on Monday. 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 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $69.46 and a 200-day moving average price of $66.65. The company has a market cap of $9.51 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released 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 13.73%. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SKX. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. UBS Group cut their target price on shares of 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. TD Cowen lifted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, Evercore ISI raised their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Activity

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were 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 of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,139 shares of company stock worth $7,600,899 over the last quarter. Insiders own 24.75% of the company’s stock.

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.