Mirae Asset Global Investments Co. Ltd. Makes New $65,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 957 shares of the textile maker’s stock, valued at approximately $65,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC lifted its position in Skechers U.S.A. by 4.4% during the third quarter. CWM LLC now owns 10,637 shares of the textile maker’s stock worth $712,000 after acquiring an additional 451 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the period. Raymond James & Associates lifted its holdings in Skechers U.S.A. by 192.7% during the 3rd quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock worth $3,518,000 after purchasing an additional 34,612 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Skechers U.S.A. by 22.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,288 shares of the textile maker’s stock valued at $3,098,000 after buying an additional 8,564 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in Skechers U.S.A. during the 3rd quarter worth $289,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.5 %

Shares of NYSE SKX opened at $63.99 on Friday. The stock has a 50-day moving average price of $70.16 and a two-hundred day moving average price of $66.46. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James decreased their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. TD Cowen increased their target price 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. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Buying and Selling

In other news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,093 shares of company stock worth $6,804,900 in the last ninety days. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company 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.