Proficio Capital Partners LLC Takes $2.38 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Proficio Capital Partners LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 35,368 shares of the textile maker’s stock, valued at approximately $2,378,000.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc raised its position in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. in the 4th quarter valued at about $65,000. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the 3rd quarter worth about $67,000. Finally, Blue Trust Inc. increased its stake in Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Buying and Selling

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares in the company, 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 ninety days, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SKX shares. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Piper Sandler started coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Evercore ISI upped their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, TD Cowen upped their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Down 0.6 %

Shares of NYSE SKX opened at $57.10 on Wednesday. The company has a market capitalization of $8.53 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The company has a 50 day simple moving average of $66.32 and a 200-day simple moving average of $65.74. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85.

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%. On average, 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.