Steward Partners Investment Advisory LLC Purchases 1,041 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Steward Partners Investment Advisory LLC lifted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,041 shares of the textile maker’s stock after purchasing an additional 1,041 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Skechers U.S.A. were worth $339,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SKX. UMB Bank n.a. lifted its position in shares of 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 valued at $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $65,000. Finally, Brooklyn Investment Group bought a new position in shares of Skechers U.S.A. during the third quarter valued at about $67,000. 79.96% of the stock is owned by institutional investors.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was 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 in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock worth $14,700,809 in the last three months. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $55.85 on Friday. The company has a 50 day moving average of $67.08 and a 200 day moving average of $66.03. The stock has a market cap of $8.43 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

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 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 forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SKX shares. Raymond James lowered 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. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock 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. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, UBS Group lowered their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. 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, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.