IFP Advisors Inc Grows Stake in Skechers U.S.A., Inc. (NYSE:SKX)

IFP Advisors Inc grew its position in Skechers U.S.A., Inc. (NYSE:SKX) by 62.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 825 shares of the textile maker’s stock after buying an additional 317 shares during the quarter. IFP Advisors Inc’s holdings in Skechers U.S.A. were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKX. Spire Wealth Management boosted its position in Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC lifted its stake in shares of Skechers U.S.A. by 0.9% during the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after purchasing an additional 157 shares during the last quarter. Lindenwold Advisors INC boosted its position in Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 195 shares in the last quarter. Blue Trust Inc. grew its stake in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 207 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Skechers U.S.A. by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker’s stock worth $280,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,738 shares of company stock worth $14,700,809. Corporate insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SKX shares. Raymond James cut their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. TD Cowen upped their price target on 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. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Evercore ISI raised their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Trading Down 0.7 %

Shares of Skechers U.S.A. stock opened at $58.90 on Friday. The stock has a market cap of $8.89 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The firm has a fifty day moving average price of $68.18 and a 200 day moving average price of $66.42. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Equities 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.