Nomura Holdings Inc. Takes $1.21 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Nomura Holdings Inc. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,989 shares of the textile maker’s stock, valued at approximately $1,210,000.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at $12,852,000. Schroder Investment Management Group lifted its stake in shares of Skechers U.S.A. by 11.3% in the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after purchasing an additional 18,024 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at $5,804,000. Frontier Capital Management Co. LLC acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at $17,589,000. Finally, Assenagon Asset Management S.A. lifted its stake 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 worth $8,069,000 after acquiring an additional 15,874 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company’s stock, valued at approximately $849,450. This trade represents a 42.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at $5,063,009.28. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,645 shares of company stock worth $7,895,910 in the last quarter. 24.78% of the stock is owned by insiders.

Skechers U.S.A. Trading Up 0.0%

SKX opened at $62.10 on Monday. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a market cap of $9.29 billion, a P/E ratio of 14.96, a PEG ratio of 1.11 and a beta of 1.06. 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 business’s 50-day simple moving average is $53.86 and its 200-day simple moving average is $62.11.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SKX. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Evercore ISI decreased their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. 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. Wells Fargo & Company increased their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, StockNews.com began coverage on Skechers U.S.A. in a research note on Wednesday, May 14th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.