Kestra Investment Management LLC Acquires 4,700 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Kestra Investment Management LLC boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 33.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,609 shares of the textile maker’s stock after buying an additional 4,700 shares during the period. Kestra Investment Management LLC’s holdings in Skechers U.S.A. were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its position in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Skechers U.S.A. by 192.7% in the 3rd quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after buying an additional 34,612 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Skechers U.S.A. by 22.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,288 shares of the textile maker’s stock worth $3,098,000 after buying an additional 8,564 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Skechers U.S.A. in the 3rd quarter worth approximately $289,000. Finally, Lecap Asset Management Ltd. bought a new position in shares of Skechers U.S.A. during the 3rd quarter worth approximately $1,231,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. 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 $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The shares were 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 of the company’s stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,093 shares of company stock valued at $6,804,900. 24.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SKX shares. Barclays reduced their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Raymond James reduced their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus dropped their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Trading Down 0.5 %

Shares of Skechers U.S.A. stock opened at $63.99 on Tuesday. The firm has a 50-day simple moving average of $70.02 and a two-hundred day simple moving average of $66.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The company has a market cap of $9.66 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, equities analysts predict that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

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.