Two Sigma Advisers LP Buys 856,900 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Two Sigma Advisers LP grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 381.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,081,800 shares of the textile maker’s stock after buying an additional 856,900 shares during the quarter. Two Sigma Advisers LP’s holdings in Skechers U.S.A. were worth $72,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SKX. Assenagon Asset Management S.A. raised its holdings in Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after buying an additional 15,874 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Skechers U.S.A. by 13.0% in the fourth quarter. Park Avenue Securities LLC now owns 16,830 shares of the textile maker’s stock valued at $1,132,000 after acquiring an additional 1,933 shares during the period. HB Wealth Management LLC bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $265,000. Aaron Wealth Advisors LLC bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $222,000. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth about $4,127,000. Institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In related news, President Michael Greenberg sold 33,656 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. The trade was a 5.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,599 shares of company stock worth $7,099,910. 24.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SKX shares. UBS Group restated a “neutral” rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. StockNews.com initiated coverage on Skechers U.S.A. in a research note on Wednesday, May 14th. They set a “sell” rating on the stock. Monness Crespi & Hardt lowered Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, Barclays reiterated an “equal weight” rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.00.

Skechers U.S.A. Price Performance

SKX opened at $61.95 on Tuesday. 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 cap of $9.27 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The stock has a fifty day simple moving average of $53.97 and a two-hundred day simple moving average of $62.10. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month 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 (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $1.33 EPS. Skechers U.S.A.’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.