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

Tectonic Advisors LLC raised its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period.

A number of other institutional investors have also recently bought and sold shares of SKX. UMB Bank n.a. lifted its position in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $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. in the fourth quarter worth $65,000. Brooklyn Investment Group bought a new stake in shares of Skechers U.S.A. in the third quarter worth $67,000. Finally, Blue Trust Inc. lifted its position in shares of Skechers U.S.A. by 778.1% in 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 in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $75.69 on Friday. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 0.92 and a beta of 1.19. The firm’s 50-day simple moving average is $70.27 and its 200 day simple moving average is $66.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

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 return on equity of 13.71% and a net margin of 7.19%. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Insider Buying and Selling

In related news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were 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 of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SKX shares. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays upped their price target 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. TD Cowen upped their price target 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. Evercore ISI upped their price target on shares of 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.60.

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.