ING Groep NV Boosts Stake in Skechers U.S.A., Inc. (NYSE:SKX)

ING Groep NV grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 70.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 154,900 shares of the textile maker’s stock after acquiring an additional 63,800 shares during the period. ING Groep NV owned about 0.10% of Skechers U.S.A. worth $10,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SKX. Spire Wealth Management boosted its position in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC lifted its position in Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after acquiring an additional 157 shares in the last quarter. Lindenwold Advisors INC lifted its position in Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares in the last quarter. Blue Trust Inc. lifted its position in Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 207 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Skechers U.S.A. by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker’s stock valued at $280,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

SKX stock opened at $65.70 on Friday. The company has a market cap of $9.92 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock’s fifty day moving average price is $69.69 and its 200-day moving average price is $66.53.

Skechers U.S.A. (NYSE:SKX) last announced its 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 13.73% and a net margin of 7.13%. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SKX. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. TD Cowen upped their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Raymond James lowered their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Insider Buying and Selling

In related news, COO David Weinberg sold 36,000 shares of the firm’s stock in a transaction on 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 directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was 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 directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,139 shares of company stock valued at $7,600,899. 24.75% of the stock is 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.