Russell Investments Group Ltd. Purchases 1,096 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Russell Investments Group Ltd. increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,166 shares of the textile maker’s stock after buying an additional 1,096 shares during the period. Russell Investments Group Ltd.’s holdings in Skechers U.S.A. were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SKX. Thrivent Financial for Lutherans increased its holdings in shares of Skechers U.S.A. by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 35,699 shares of the textile maker’s stock valued at $1,132,000 after acquiring an additional 312 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Skechers U.S.A. by 1.0% during the third quarter. Malaga Cove Capital LLC now owns 35,979 shares of the textile maker’s stock valued at $1,141,000 after acquiring an additional 350 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Skechers U.S.A. by 0.5% during the third quarter. Amalgamated Bank now owns 97,346 shares of the textile maker’s stock valued at $3,088,000 after acquiring an additional 449 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Skechers U.S.A. by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 67,138 shares of the textile maker’s stock valued at $2,130,000 after buying an additional 529 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Skechers U.S.A. by 9.0% during the third quarter. Inspire Investing LLC now owns 6,507 shares of the textile maker’s stock valued at $206,000 after buying an additional 536 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Skechers U.S.A.

In related news, Director Richard Siskind sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $53.68, for a total transaction of $1,073,600.00. Following the sale, the director now directly owns 152,999 shares in the company, valued at approximately $8,212,986.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 9,453 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.16, for a total value of $426,897.48. Following the transaction, the chief executive officer now directly owns 168,907 shares in the company, valued at approximately $7,627,840.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Siskind sold 20,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $8,212,986.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,805 shares of company stock worth $4,806,675. 24.44% of the stock is owned by company insiders.

Skechers U.S.A. Stock Down 0.5 %

Shares of NYSE SKX opened at $50.84 on Thursday. Skechers U.S.A., Inc. has a one year low of $31.28 and a one year high of $54.77. 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 business’s fifty day moving average price is $49.36 and its 200-day moving average price is $45.44. The stock has a market capitalization of $7.87 billion, a PE ratio of 19.33 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The textile maker reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.41. Skechers U.S.A. had a return on equity of 10.72% and a net margin of 5.41%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.84 billion. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post 3.14 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on SKX shares. Raymond James lifted their target price on Skechers U.S.A. from $48.00 to $58.00 in a research report on Friday, April 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $56.00 to $57.00 in a research report on Friday, April 28th. Stifel Nicolaus boosted their price objective on Skechers U.S.A. from $54.00 to $59.00 in a research report on Friday, April 28th. Morgan Stanley boosted their price objective on Skechers U.S.A. from $46.00 to $48.00 in a research report on Friday, April 28th. Finally, StockNews.com started coverage on Skechers U.S.A. in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus target price of $56.27.

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.