10,307 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,307 shares of the textile maker's stock, valued at approximately $693,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SKX. Norges Bank acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth $105,741,000. Bank of New York Mellon Corp boosted its stake in Skechers U.S.A. by 70.4% during the 4th 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 acquiring an additional 953,528 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Skechers U.S.A. by 545.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 332,813 shares of the textile maker's stock worth $22,378,000 after buying an additional 281,234 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Skechers U.S.A. by 68.3% in 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Skechers U.S.A. in the 4th quarter valued at about $12,852,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Insiders Place Their Bets

In other news, EVP Mark A. Nason sold 12,046 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. This trade represents a 31.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares of the company's stock, valued at approximately $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 in the last three months. Corporate insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 3.7 %

Shares of SKX traded up $1.82 during trading hours on Thursday, hitting $50.70. The company had a trading volume of 1,514,501 shares, compared to its average volume of 2,270,277. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The firm has a fifty day moving average price of $55.47 and a 200-day moving average price of $62.94. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 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 research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SKX shares. Evercore ISI decreased their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. UBS Group cut their price objective on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays cut their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus dropped their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.67.

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.