Ranmore Fund Management Ltd Takes $10.15 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Ranmore Fund Management Ltd purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 151,000 shares of the textile maker's stock, valued at approximately $10,153,000. Skechers U.S.A. accounts for about 9.4% of Ranmore Fund Management Ltd's investment portfolio, making the stock its 3rd largest holding. Ranmore Fund Management Ltd owned about 0.10% of Skechers U.S.A. as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Skechers U.S.A. during the 4th quarter worth approximately $105,741,000. Bank of New York Mellon Corp increased its position in shares of Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after acquiring an additional 953,528 shares during the period. Wellington Management Group LLP raised its stake in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after acquiring an additional 287,939 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in 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 valued at $41,940,000 after purchasing an additional 253,045 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Skechers U.S.A. during the 4th quarter worth $12,852,000. Institutional investors and hedge funds own 79.96% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus reduced their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday. Bank of America reduced their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Barclays lowered their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Raymond James reduced 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 report on Friday, February 7th. Finally, Evercore ISI boosted 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 research note on Tuesday, January 28th. Three investment 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.92.

Insider Buying and Selling at Skechers U.S.A.

In other news, President Michael Greenberg sold 33,656 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the transaction, the president now owns 137,530 shares of the company's stock, valued at approximately $8,356,322.80. The trade was a 19.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares of the company's stock, valued at approximately $1,696,604. This represents a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.12 during trading hours on Friday, reaching $49.47. The stock had a trading volume of 3,786,343 shares, compared to its average volume of 2,232,669. The firm has a 50-day moving average of $58.55 and a 200-day moving average of $63.99. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.08. 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., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted 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 net margin of 7.13% and a return on equity of 13.73%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.