Oak Thistle LLC Has $427,000 Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Oak Thistle LLC reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 10.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,973 shares of the textile maker’s stock after selling 777 shares during the period. Oak Thistle LLC’s holdings in Skechers U.S.A. were worth $427,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Skechers U.S.A. by 7.9% in the third quarter. PNC Financial Services Group Inc. now owns 5,225 shares of the textile maker’s stock valued at $256,000 after purchasing an additional 381 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at $219,000. Envestnet Asset Management Inc. raised its stake in Skechers U.S.A. by 56.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after buying an additional 34,926 shares during the period. Natixis Advisors L.P. lifted its holdings in Skechers U.S.A. by 34.6% during the third quarter. Natixis Advisors L.P. now owns 89,367 shares of the textile maker’s stock worth $4,374,000 after acquiring an additional 22,948 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Skechers U.S.A. by 43.0% during the third quarter. Tower Research Capital LLC TRC now owns 18,729 shares of the textile maker’s stock worth $917,000 after acquiring an additional 5,633 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $67.52 on Tuesday. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $75.09. The company has a market cap of $10.30 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The stock’s 50-day simple moving average is $68.94 and its 200 day simple moving average is $63.62.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 EPS. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on Skechers U.S.A. in a report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price target for the company. Barclays started coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price on the stock. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and upped their price target for the company from $71.00 to $87.00 in a report on Friday, June 7th. Evercore ISI dropped their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, TD Cowen boosted their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

About Skechers U.S.A.

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.