Whalen Wealth Management Inc. Invests $256,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Whalen Wealth Management Inc. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,811 shares of the textile maker’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Commerce Bank increased its stake in Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after buying an additional 423,204 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake in Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after buying an additional 394,618 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Skechers U.S.A. by 39.0% during 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 acquiring an additional 287,939 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Skechers U.S.A. by 646.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker’s stock valued at $22,348,000 after acquiring an additional 280,000 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.5 %

Shares of SKX opened at $73.44 on Thursday. The company’s 50-day moving average price is $67.50 and its 200 day moving average price is $65.76. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.09 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

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

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction 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 approximately $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on SKX shares. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America reduced their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays boosted their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $79.00.

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.