Vaughan Nelson Investment Management L.P. Grows Position in Skechers U.S.A., Inc. (NYSE:SKX)

Vaughan Nelson Investment Management L.P. grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 68.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 623,745 shares of the textile maker’s stock after acquiring an additional 253,045 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.41% of Skechers U.S.A. worth $41,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds 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% during the third 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 lifted 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 worth $58,000 after buying an additional 299 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skechers U.S.A. in the 4th quarter worth approximately $65,000. Brooklyn Investment Group bought a new position in shares of Skechers U.S.A. in the third quarter valued at approximately $67,000. Finally, Blue Trust Inc. increased its position in shares of 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 valued at $69,000 after acquiring an additional 887 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Skechers U.S.A.

In other news, 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 completion of the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Trading Down 12.6 %

NYSE:SKX opened at $66.06 on Friday. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The stock’s fifty day moving average price is $70.55 and its two-hundred day moving average price is $66.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company has a market cap of $9.97 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on SKX shares. Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Morgan Stanley increased their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Raymond James lowered their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.50.

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.