Susquehanna Fundamental Investments LLC Acquires Shares of 141,815 Skechers U.S.A., Inc. (NYSE:SKX)

Susquehanna Fundamental Investments LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, HoldingsChannel reports. The firm bought 141,815 shares of the textile maker’s stock, valued at approximately $9,536,000.

Several other large investors have also modified their holdings of SKX. NewEdge Advisors LLC lifted its holdings in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the last quarter. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the period. IFP Advisors Inc raised its holdings in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $65,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SKX. Barclays cut their target price on shares of Skechers U.S.A. from $77.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. TD Cowen boosted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. UBS Group dropped their price objective on shares of Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Bank of America reduced their target price 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. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.62.

Insider Buying and Selling

In other news, President Michael Greenberg sold 33,656 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the completion of the sale, the president now owns 137,530 shares of the company’s stock, valued at $8,356,322.80. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the sale, the executive vice president now directly owns 25,675 shares of the company’s stock, valued at approximately $1,696,604. This represents a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,245 shares of company stock valued at $13,452,902. Company insiders own 24.78% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE SKX opened at $47.77 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock has a market capitalization of $7.13 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08. The business’s fifty day moving average is $54.81 and its two-hundred day moving average is $62.68. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.