10,702 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,702 shares of the textile maker’s stock, valued at approximately $449,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd grew its holdings in Skechers U.S.A. by 88.9% during the first quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock worth $55,000 after purchasing an additional 640 shares during the period. Lazard Asset Management LLC bought a new stake in Skechers U.S.A. in the 3rd quarter valued at $47,000. Wipfli Financial Advisors LLC acquired a new stake in Skechers U.S.A. during the 3rd quarter valued at $69,000. US Bancorp DE boosted its position in Skechers U.S.A. by 71.1% during the first quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after purchasing an additional 1,004 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Skechers U.S.A. in the third quarter valued at $96,000. Institutional investors own 93.29% of the company’s stock.

Skechers U.S.A. Stock Down 0.3 %

NYSE SKX opened at $51.84 on Friday. Skechers U.S.A., Inc. has a fifty-two week low of $31.28 and a fifty-two week high of $54.36. The business has a fifty day moving average price of $47.14 and a two-hundred day moving average price of $43.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.43. The stock has a market capitalization of $8.04 billion, a PE ratio of 19.71 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The textile maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. Skechers U.S.A. had a return on equity of 10.72% and a net margin of 5.41%. Skechers U.S.A.’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts expect that Skechers U.S.A., Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 15,756 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $45.16, for a total transaction of $711,540.96. Following the sale, the president now owns 387,030 shares of the company’s stock, valued at $17,478,274.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Richard Siskind sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $53.68, for a total value of $1,073,600.00. Following the completion of the transaction, the director now owns 152,999 shares of the company’s stock, valued at $8,212,986.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Greenberg sold 15,756 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $45.16, for a total transaction of $711,540.96. Following the completion of the transaction, the president now owns 387,030 shares of the company’s stock, valued at approximately $17,478,274.80. The disclosure for this sale can be found here. Insiders sold a total of 98,305 shares of company stock worth $4,622,225 in the last three months. 24.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SKX shares. Morgan Stanley increased their price target on shares of Skechers U.S.A. from $46.00 to $48.00 in a report on Friday, April 28th. Cowen decreased their price objective on Skechers U.S.A. from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Raymond James lifted their target price on Skechers U.S.A. from $48.00 to $58.00 in a report on Friday, April 28th. Piper Sandler upped their price target on shares of Skechers U.S.A. from $47.00 to $52.00 in a research note on Friday, April 28th. Finally, Cowen upgraded shares of Skechers U.S.A. from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $65.00 in a research note on Monday, January 23rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

About Skechers U.S.A.

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Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the Wholesale and Direct-to-Consumer segment. The Wholesale segment includes department stores, family shoe stores, specialty running, and sporting goods retailers.