Stephens Inc. AR Takes $632,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Stephens Inc. AR acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,392 shares of the textile maker’s stock, valued at approximately $632,000.

Several other hedge funds also recently modified their holdings of the business. UMB Bank n.a. raised its stake in shares of Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. Venturi Wealth Management LLC raised its stake 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 valued at $58,000 after purchasing an additional 299 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. in the fourth quarter valued at $65,000. Blue Trust Inc. raised its stake 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 valued at $69,000 after purchasing an additional 887 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Skechers U.S.A. in the third quarter valued at $67,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $63.99 on Friday. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The firm has a market cap of $9.66 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The business has a fifty day moving average of $70.16 and a 200-day moving average of $66.46.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.79 EPS for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, COO David Weinberg sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares in the company, valued at $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $693,289.52. Following the completion of the transaction, the president now 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 have sold a total of 107,093 shares of company stock worth $6,804,900 over the last 90 days. Insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SKX shares. Deutsche Bank Aktiengesellschaft upped their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen upped their target price on 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 initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. Bank of America dropped their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, UBS Group dropped their price objective on 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

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.