Assenagon Asset Management S.A. Purchases 15,874 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Assenagon Asset Management S.A. increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,007 shares of the textile maker’s stock after acquiring an additional 15,874 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Skechers U.S.A. worth $8,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKX. UMB Bank n.a. raised its stake in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the 3rd quarter worth approximately $67,000. Blue Trust Inc. boosted its stake in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares in the last quarter. Finally, Quarry LP grew its position in Skechers U.S.A. by 44.6% during the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock worth $82,000 after purchasing an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

SKX has been the subject of a number of research analyst reports. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Barclays raised their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. TD Cowen raised their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Needham & Company LLC began coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.00.

Skechers U.S.A. Stock Up 1.1 %

SKX stock opened at $70.09 on Monday. The firm has a market cap of $10.58 billion, a PE ratio of 17.26, a P/E/G ratio of 0.86 and a beta of 1.19. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The firm’s fifty day moving average is $66.81 and its 200 day moving average is $65.63.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

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.