New Age Alpha Advisors LLC Makes New $1.89 Million Investment in Skechers U.S.A., Inc. (NYSE:SKX)

New Age Alpha Advisors LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 28,088 shares of the textile maker's stock, valued at approximately $1,889,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC grew its position in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after acquiring an additional 239 shares in the last quarter. IFP Advisors Inc lifted its stake in 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 buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Skechers U.S.A. in the 4th quarter worth approximately $65,000. Finally, Blue Trust Inc. grew its holdings in shares of Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock valued at $81,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SKX shares. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. TD Cowen boosted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays decreased their price target 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. Finally, Raymond James decreased their price target on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.42.

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Insiders Place Their Bets

In other news, President Michael Greenberg sold 33,656 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the transaction, the president now directly owns 137,530 shares in the company, valued at approximately $8,356,322.80. This trade represents a 19.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were 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. The trade was a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock worth $13,452,902 over the last quarter. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Trading Up 1.2 %

Skechers U.S.A. stock traded up $0.69 during trading hours on Tuesday, hitting $57.47. The stock had a trading volume of 2,033,943 shares, compared to its average volume of 2,078,620. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 13.85, a P/E/G 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 business's 50 day simple moving average is $63.69 and its 200-day simple moving average is $65.07. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued 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 net margin of 7.13% and a return on equity of 13.73%. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.