Cascade Investment Advisors Inc. Has $1.67 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Cascade Investment Advisors Inc. lifted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,900 shares of the textile maker’s stock after buying an additional 1,795 shares during the period. Cascade Investment Advisors Inc.’s holdings in Skechers U.S.A. were worth $1,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SKX. UMB Bank n.a. boosted its position in Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares during the period. Venturi Wealth Management LLC grew its position in Skechers U.S.A. by 52.9% during 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 in the last quarter. Blue Trust Inc. increased its stake 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 buying an additional 887 shares during the period. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. in the 3rd quarter worth approximately $67,000. Finally, Quarry LP boosted its stake in shares of Skechers U.S.A. by 44.6% during the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after buying an additional 366 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE SKX opened at $75.00 on Tuesday. The stock has a 50-day simple moving average of $68.09 and a 200 day simple moving average of $65.87. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $76.67. The stock has a market capitalization of $11.32 billion, a PE ratio of 18.47, a P/E/G ratio of 0.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SKX shares. Barclays increased their price objective 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. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, TD Cowen increased their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

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.