Keystone Investors PTE Ltd. Acquires New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

Keystone Investors PTE Ltd. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,500 shares of the textile maker’s stock, valued at approximately $2,723,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the last quarter. UMB Bank n.a. boosted its position 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 valued at $46,000 after buying an additional 239 shares during the period. IFP Advisors Inc boosted its stake in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. in the 4th quarter worth about $65,000. Finally, Brooklyn Investment Group purchased a new position in Skechers U.S.A. in the 3rd quarter worth about $67,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bank of America lowered their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Raymond James cut their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.42.

Insiders Place Their Bets

In other news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. 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 transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Stock Up 4.2 %

Shares of Skechers U.S.A. stock opened at $58.42 on Tuesday. The company has a market cap of $8.73 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $65.30 and a 200 day moving average price of $65.44.

Skechers U.S.A. (NYSE:SKX) last announced 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 net margin of 7.13% and a return on equity of 13.73%. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

About Skechers U.S.A.

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.