Meeder Asset Management Inc. Acquires Shares of 1,230 Skechers U.S.A., Inc. (NYSE:SKX)

Meeder Asset Management Inc. acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,230 shares of the textile maker’s stock, valued at approximately $77,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in Skechers U.S.A. by 10.8% during the 1st quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock valued at $689,000 after purchasing an additional 1,654 shares during the last quarter. US Bancorp DE lifted its stake in shares of 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 buying an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Skechers U.S.A. by 11.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after buying an additional 663 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Skechers U.S.A. by 8.6% during the 1st quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock worth $519,000 after buying an additional 990 shares during the period. Finally, MetLife Investment Management LLC grew its stake in Skechers U.S.A. by 34.4% in the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock valued at $3,580,000 after buying an additional 22,464 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SKX. Barclays assumed coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price objective for the company. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Raymond James reduced their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. TD Cowen increased their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Monness Crespi & Hardt lifted their target price 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. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average price target of $66.58.

Skechers U.S.A. Stock Down 0.2 %

Shares of NYSE SKX opened at $58.13 on Wednesday. The stock has a market capitalization of $8.91 billion, a P/E ratio of 16.66, a PEG ratio of 1.05 and a beta of 1.32. The stock’s fifty day moving average is $60.04 and its 200 day moving average is $57.27. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $65.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 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 transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares in the company, valued at $11,345,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the transaction, the chief executive officer now owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the sale, the executive vice president now owns 14,023 shares of the company’s stock, valued at $856,945.53. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock valued at $15,021,192 over the last three months. 24.79% of the stock is owned by insiders.

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.