Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by LRI Investments LLC

LRI Investments LLC grew its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 25.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,104 shares of the textile maker’s stock after purchasing an additional 431 shares during the period. LRI Investments LLC’s holdings in Skechers U.S.A. were worth $141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at approximately $1,110,000. Hudson Bay Capital Management LP acquired a new stake in Skechers U.S.A. during the fourth quarter valued at $5,804,000. Fund 1 Investments LLC purchased a new position in Skechers U.S.A. in the fourth quarter valued at $231,000. Frontier Capital Management Co. LLC purchased a new position in Skechers U.S.A. in the fourth quarter valued at $17,589,000. Finally, Clark Capital Management Group Inc. raised its position in shares of Skechers U.S.A. by 40.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 79,424 shares of the textile maker’s stock worth $5,340,000 after acquiring an additional 23,015 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

SKX opened at $62.47 on Tuesday. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The firm has a market capitalization of $9.33 billion, a PE ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.06. 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 firm’s 50-day moving average price is $53.46 and its 200 day moving average price is $62.09.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKX has been the topic of several research analyst reports. Evercore ISI dropped their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Morgan Stanley reiterated an “equal weight” rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. StockNews.com lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, Raymond James lowered shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.00.

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

In related news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction on 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 sale, the chief operating officer now owns 54,499 shares in the company, valued at $3,418,177.28. This represents a 39.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 in the last three months. 24.78% of the stock is owned by corporate 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.