Wipfli Financial Advisors LLC Makes New $69,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Wipfli Financial Advisors LLC purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKXGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,179 shares of the textile maker’s stock, valued at approximately $69,000.

A number of other institutional investors have also recently bought and sold shares of SKX. Allworth Financial LP grew its position in shares of Skechers U.S.A. by 162.5% in the third quarter. Allworth Financial LP now owns 790 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 489 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of Skechers U.S.A. in the second quarter valued at approximately $37,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Skechers U.S.A. in the first quarter valued at approximately $49,000. Byrne Asset Management LLC acquired a new position in shares of Skechers U.S.A. in the third quarter valued at approximately $40,000. Finally, Covestor Ltd grew its position in shares of Skechers U.S.A. by 88.9% in the first quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SKX. Deutsche Bank Aktiengesellschaft decreased their target price on Skechers U.S.A. from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Morgan Stanley reduced their price target on Skechers U.S.A. from $59.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. StockNews.com initiated coverage on Skechers U.S.A. in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Wedbush reduced their price target on Skechers U.S.A. from $42.00 to $37.00 in a research report on Wednesday, October 26th. Finally, Raymond James increased their price target on Skechers U.S.A. from $40.00 to $48.00 in a research report on Thursday, December 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Insider Activity

In other news, Director Katherine J. Blair sold 1,500 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total value of $52,740.00. Following the completion of the transaction, the director now directly owns 10,500 shares in the company, valued at approximately $369,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Katherine J. Blair sold 1,500 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total value of $52,740.00. Following the completion of the sale, the director now directly owns 10,500 shares in the company, valued at $369,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Greenberg sold 10,503 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total value of $444,171.87. Following the completion of the sale, the president now owns 427,080 shares of the company’s stock, valued at $18,061,213.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,967 shares of company stock worth $876,358. Insiders own 24.44% of the company’s stock.

Skechers U.S.A. Stock Up 0.8 %

NYSE SKX opened at $46.56 on Friday. The business has a fifty day moving average price of $41.57 and a two-hundred day moving average price of $38.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.27 and a quick ratio of 1.14. Skechers U.S.A., Inc. has a fifty-two week low of $31.28 and a fifty-two week high of $49.89. The stock has a market capitalization of $7.22 billion, a PE ratio of 10.44 and a beta of 1.29.

Skechers U.S.A. (NYSE:SKXGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The textile maker reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.19). Skechers U.S.A. had a net margin of 9.70% and a return on equity of 10.03%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.84 billion. Equities analysts expect that Skechers U.S.A., Inc. will post 2.26 earnings per share for the current fiscal year.

Skechers U.S.A. Profile

(Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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