Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 30.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,256 shares of the textile maker’s stock after purchasing an additional 13,968 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Skechers U.S.A. were worth $4,052,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the period. Geode Capital Management LLC raised its holdings in shares of Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock valued at $148,395,000 after acquiring an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after acquiring an additional 287,939 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Skechers U.S.A. by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after acquiring an additional 49,734 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Buying and Selling

In other news, COO David Weinberg sold 8,219 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 $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,139 shares of company stock worth $7,600,899. Company insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on SKX shares. TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Barclays reduced their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. 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 report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price 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, Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Skechers U.S.A. Trading Down 0.4 %

Shares of Skechers U.S.A. stock opened at $65.70 on Friday. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.13 and a beta of 1.19. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock has a 50 day moving average of $69.69 and a 200 day moving average of $66.53.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. As a group, research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current 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.