Martin & Co. Inc. TN Sells 2,711 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Martin & Co. Inc. TN lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 75,963 shares of the textile maker’s stock after selling 2,711 shares during the quarter. Skechers U.S.A. comprises approximately 1.3% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 21st largest position. Martin & Co. Inc. TN’s holdings in Skechers U.S.A. were worth $5,108,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. UMB Bank n.a. raised its position in Skechers U.S.A. by 53.1% in 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 last quarter. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% in the 3rd 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 during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the 4th quarter valued at $65,000. Brooklyn Investment Group acquired a new position in Skechers U.S.A. in the 3rd quarter valued at $67,000. Finally, Blue Trust Inc. raised its holdings in Skechers U.S.A. by 778.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Buying and Selling at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 52,600 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 $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % 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, COO David Weinberg sold 8,219 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 $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. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,093 shares of company stock worth $6,804,900. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $63.99 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.66 billion, a P/E ratio of 15.42, a PEG ratio of 0.95 and a beta of 1.19. The stock’s 50 day moving average is $70.02 and its 200 day moving average is $66.47. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85.

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 for the quarter, missing the consensus estimate 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%. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Raymond James decreased their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Morgan Stanley boosted their target price on 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. TD Cowen boosted 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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.