Jump Financial LLC Buys Shares of 16,067 Skechers U.S.A., Inc. (NYSE:SKX)

Jump Financial LLC purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,067 shares of the textile maker’s stock, valued at approximately $1,080,000.

Several other hedge funds have also recently bought and sold shares of SKX. Raymond James Financial Inc. purchased a new position in shares of Skechers U.S.A. in the fourth quarter valued at $12,852,000. Schroder Investment Management Group increased its holdings in Skechers U.S.A. by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after acquiring an additional 18,024 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at approximately $2,752,000. Finally, Delphi Management Inc. MA purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $1,517,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SKX. Stifel Nicolaus lowered their target price on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America dropped their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Raymond James decreased 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. Finally, UBS Group dropped their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.67.

Skechers U.S.A. Stock Up 1.7 %

Shares of Skechers U.S.A. stock opened at $47.53 on Monday. The company has a fifty day moving average price of $56.42 and a 200 day moving average price of $63.29. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now directly owns 15,000 shares of the company’s stock, valued at $849,450. This trade represents a 42.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is currently owned by company insiders.

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.