Commonwealth Equity Services LLC Has $2.77 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Commonwealth Equity Services LLC increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,120 shares of the textile maker’s stock after buying an additional 4,128 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Skechers U.S.A. were worth $2,765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Wellington Management Group LLP increased its stake in Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after buying an additional 287,939 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Skechers U.S.A. by 68.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after buying an additional 253,045 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth about $12,852,000. Finally, Bfsg LLC grew its holdings in shares of Skechers U.S.A. by 1,519.6% in the 4th quarter. Bfsg LLC now owns 101,487 shares of the textile maker’s stock valued at $6,824,000 after acquiring an additional 95,221 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.0 %

SKX opened at $57.34 on Thursday. 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 fifty day moving average of $64.77 and a 200-day moving average of $65.32. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The company has a market capitalization of $8.56 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last announced 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 13.73% and a net margin of 7.13%. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares of the company’s stock, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SKX has been the subject of several recent research reports. UBS Group reduced their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Barclays decreased their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.42.

Skechers U.S.A. 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.