Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,007 shares of the textile maker's stock after purchasing an additional 15,874 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of Skechers U.S.A. worth $8,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after purchasing an additional 299 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. during the third quarter valued at $67,000. Blue Trust Inc. lifted its position in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after purchasing an additional 887 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Skechers U.S.A. by 44.6% in the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker's stock worth $82,000 after buying an additional 366 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Insider Activity

In related news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael Greenberg sold 10,274 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company's stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 1.1 %

Shares of SKX stock traded up $0.75 during mid-day trading on Monday, hitting $70.09. 1,755,508 shares of the stock traded hands, compared to its average volume of 1,414,798. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The stock has a market cap of $10.58 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock's fifty day moving average is $66.81 and its two-hundred day moving average is $65.63.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.'s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. Equities analysts predict that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America lowered their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a report on Friday, October 25th. Needham & Company LLC started coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a "hold" rating for the company. TD Cowen boosted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Barclays increased their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Finally, Piper Sandler started coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.00.

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.