Park Avenue Securities LLC Buys 1,933 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Park Avenue Securities LLC grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,830 shares of the textile maker’s stock after purchasing an additional 1,933 shares during the period. Park Avenue Securities LLC’s holdings in Skechers U.S.A. were worth $1,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SKX. UMB Bank n.a. lifted its holdings in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Skechers U.S.A. by 52.9% during 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 purchased a new stake in shares of Skechers U.S.A. during the 3rd quarter valued at $67,000. Blue Trust Inc. lifted its holdings in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Skechers U.S.A. by 44.6% during the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SKX shares. Barclays increased their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America reduced their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Morgan Stanley raised their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC initiated coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Insider Buying and Selling

In related news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % 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.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $70.09 on Tuesday. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $10.58 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. The stock’s 50-day moving average price is $66.81 and its 200-day moving average price is $65.63.

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

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.