Ieq Capital LLC Acquires New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Ieq Capital LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,210 shares of the textile maker’s stock, valued at approximately $1,695,000.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings 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 worth $46,000 after acquiring an additional 239 shares during the period. Venturi Wealth Management LLC grew its position 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $65,000. Brooklyn Investment Group acquired a new position in shares of Skechers U.S.A. during the 3rd quarter worth about $67,000. Finally, Blue Trust Inc. lifted its position in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of research reports. Raymond James dropped their target price on shares of 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. Stifel Nicolaus decreased their price target on shares of 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. Barclays cut 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. TD Cowen lifted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, StockNews.com lowered 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 assigned a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Stock Performance

SKX opened at $63.01 on Monday. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The business has a 50 day moving average of $69.46 and a 200-day moving average of $66.65. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.11 and a beta of 1.19.

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

Insiders Place Their Bets

In other news, COO David Weinberg sold 36,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,139 shares of company stock worth $7,600,899 in the last quarter. Corporate insiders own 24.75% of the company’s stock.

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.