Vontobel Holding Ltd. Invests $326,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Vontobel Holding Ltd. bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,855 shares of the textile maker’s stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Skechers U.S.A. by 30.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,256 shares of the textile maker’s stock worth $4,052,000 after acquiring an additional 13,968 shares during the period. Harbour Trust & Investment Management Co raised its position in shares of Skechers U.S.A. by 6.9% in the fourth quarter. Harbour Trust & Investment Management Co now owns 70,528 shares of the textile maker’s stock worth $4,742,000 after acquiring an additional 4,555 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Skechers U.S.A. by 58.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 6,501 shares of the textile maker’s stock worth $437,000 after acquiring an additional 2,405 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Skechers U.S.A. by 68.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after acquiring an additional 253,045 shares during the period. Finally, Stephens Inc. AR acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth about $632,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the 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 $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,139 shares of company stock valued at $7,600,899. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Down 0.4 %

Shares of NYSE SKX opened at $65.70 on Friday. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The stock has a market cap of $9.92 billion, a PE ratio of 15.83, a P/E/G ratio of 1.13 and a beta of 1.19. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company 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 announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SKX shares. Piper Sandler started coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. UBS Group decreased their price objective on shares of 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. Barclays cut their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.25.

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.