28,088 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,088 shares of the textile maker’s stock, valued at approximately $1,889,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at approximately $105,741,000. Bank of New York Mellon Corp boosted its stake in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after acquiring an additional 953,528 shares during the last quarter. Wellington Management Group LLP grew its holdings in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after acquiring an additional 287,939 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Skechers U.S.A. by 68.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after purchasing an additional 253,045 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Skechers U.S.A. in the 4th quarter worth about $12,852,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, 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. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 over the last ninety days. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $56.90 on Monday. The firm’s 50 day moving average is $64.28 and its two-hundred day moving average is $65.21. The firm has a market capitalization of $8.50 billion, a P/E ratio of 13.71, a PEG ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52 week low of $53.79 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SKX shares. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Barclays lowered their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Raymond James reduced their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. TD Cowen boosted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $80.42.

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.