Granahan Investment Management LLC Has $2.10 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Granahan Investment Management LLC lessened its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 80.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,241 shares of the textile maker’s stock after selling 125,521 shares during the quarter. Granahan Investment Management LLC’s holdings in Skechers U.S.A. were worth $2,101,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SKX. NewEdge Advisors LLC raised its stake in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. UMB Bank n.a. raised its position 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 valued at $46,000 after purchasing an additional 239 shares during the last quarter. IFP Advisors Inc boosted its stake in Skechers U.S.A. by 62.4% in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Skechers U.S.A. during the fourth quarter worth $65,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

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

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the transaction, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,245 shares of company stock valued at $13,452,902. Corporate insiders own 24.78% of the company’s stock.

Skechers U.S.A. Trading Up 0.1 %

NYSE SKX opened at $61.50 on Friday. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The stock has a 50-day simple moving average of $53.40 and a 200 day simple moving average of $62.07. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.19 billion, a PE ratio of 14.82, a P/E/G ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 EPS. Research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SKX. Bank of America cut their price target on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. Wells Fargo & Company raised their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. StockNews.com lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Barclays reaffirmed an “equal weight” rating and set a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.00.

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.