Victory Capital Management Inc. Increases Position in Skechers U.S.A., Inc. (NYSE:SKX)

Victory Capital Management Inc. boosted its position in Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,770 shares of the textile maker’s stock after buying an additional 4,534 shares during the period. Victory Capital Management Inc.’s holdings in Skechers U.S.A. were worth $2,045,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Skechers U.S.A. by 10.8% during the first quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock worth $689,000 after acquiring an additional 1,654 shares during the period. US Bancorp DE increased its position in Skechers U.S.A. by 71.1% during the 1st 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. PNC Financial Services Group Inc. lifted its holdings in shares of Skechers U.S.A. by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock valued at $260,000 after buying an additional 663 shares during the period. Bank of Montreal Can boosted its stake in shares of Skechers U.S.A. by 8.6% in the first quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock valued at $519,000 after buying an additional 990 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Skechers U.S.A. by 34.4% during the first quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock worth $3,580,000 after acquiring an additional 22,464 shares during the period. 80.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at $8,183,107.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The disclosure for this sale can be found here. Insiders sold a total of 389,147 shares of company stock worth $22,779,749 over the last ninety days. 24.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Wedbush lowered their target price on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, February 2nd. Raymond James reduced their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Finally, Monness Crespi & Hardt upped their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $64.56.

View Our Latest Analysis on Skechers U.S.A.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $58.91 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The business’s fifty day moving average price is $61.70 and its two-hundred day moving average price is $54.48. The stock has a market cap of $9.07 billion, a PE ratio of 16.88 and a beta of 1.36. Skechers U.S.A., Inc. has a one year low of $41.56 and a one year high of $65.17.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. On average, analysts forecast that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal year.

Skechers U.S.A. Company Profile

(Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, 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, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, 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, as well as Skechers Viper Court for pickleball.

See Also

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

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