Alpha DNA Investment Management LLC Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Alpha DNA Investment Management LLC bought a new stake 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 bought 10,509 shares of the textile maker's stock, valued at approximately $707,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKX. Spire Wealth Management increased its stake in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after purchasing an additional 155 shares during the period. Calamos Wealth Management LLC lifted 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 worth $1,228,000 after acquiring an additional 157 shares during the period. Cerity Partners LLC raised its stake in shares of Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after purchasing an additional 172 shares during the last quarter. NewEdge Advisors LLC grew its position in Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in Skechers U.S.A. by 4.7% during 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 last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Wall Street Analyst Weigh In

SKX has been the subject of a number of recent analyst reports. Evercore ISI reduced 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 research report on Thursday, April 17th. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday. Finally, UBS Group reduced their price objective on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $74.67.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the transaction, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Trading Up 3.0 %

Shares of Skechers U.S.A. stock traded up $1.44 during trading hours on Wednesday, reaching $49.47. 1,462,629 shares of the company's stock were exchanged, compared to its average volume of 2,257,687. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth 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 52-week low of $44.50 and a 52-week high of $78.85. The company has a fifty day moving average of $55.77 and a 200-day moving average of $63.03.

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

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.