Patron Partners LLC Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Patron Partners LLC acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,485 shares of the textile maker’s stock, valued at approximately $234,000.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares during the period. Geode Capital Management LLC increased its position in Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock valued at $148,395,000 after acquiring an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the period. Wellington Management Group LLP grew its holdings in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after purchasing an additional 287,939 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Skechers U.S.A. by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after purchasing an additional 49,734 shares during the period. Institutional investors own 79.96% of the company’s stock.

Insider Activity

In other news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

SKX stock opened at $72.51 on Tuesday. The business’s fifty day moving average is $69.65 and its 200-day moving average is $66.20. The company has a market cap of $10.95 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85.

Analyst Ratings Changes

SKX has been the topic of a number of recent analyst reports. TD Cowen increased their target price 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. 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, January 29th. Finally, 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 note on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.18.

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.