Delphi Management Inc. MA Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Delphi Management Inc. MA purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,561 shares of the textile maker's stock, valued at approximately $1,517,000. Skechers U.S.A. accounts for about 1.5% of Delphi Management Inc. MA's investment portfolio, making the stock its 25th largest position.

A number of other large investors have also bought and sold shares of SKX. Spire Wealth Management raised its stake in shares of Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after acquiring an additional 155 shares during the last quarter. Calamos Wealth Management LLC raised its position in Skechers U.S.A. by 0.9% during the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock valued at $1,228,000 after purchasing an additional 157 shares during the last quarter. Lindenwold Advisors INC raised its position in Skechers U.S.A. by 3.0% during the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock valued at $446,000 after purchasing an additional 195 shares during the last quarter. Independent Advisor Alliance lifted its holdings in Skechers U.S.A. by 4.7% in the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after buying an additional 200 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after buying an additional 207 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

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Skechers U.S.A. Stock Down 0.5 %

SKX stock traded down $0.26 on Friday, reaching $56.11. 2,545,143 shares of the company traded hands, compared to its average volume of 2,477,854. The firm has a fifty day simple moving average of $65.83 and a 200-day simple moving average of $65.61. The company has a market cap of $8.38 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a one year low of $53.79 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results 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%. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SKX. Barclays dropped their price target on 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. Stifel Nicolaus dropped their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. TD Cowen increased their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Insiders Place Their Bets

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the business's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company's stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,738 shares of company stock valued at $14,700,809. Insiders own 24.75% of the company's stock.

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.