Edgestream Partners L.P. Has $5.40 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Edgestream Partners L.P. lifted its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 816.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,273 shares of the textile maker's stock after acquiring an additional 71,511 shares during the period. Edgestream Partners L.P. owned 0.05% of Skechers U.S.A. worth $5,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SKX. QRG Capital Management Inc. lifted its position in Skechers U.S.A. by 2.6% in the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker's stock worth $747,000 after purchasing an additional 284 shares during the period. Advisor Resource Council bought a new stake in shares of Skechers U.S.A. in the 3rd quarter worth $420,000. Mainstream Capital Management LLC bought a new stake in shares of Skechers U.S.A. in the 3rd quarter worth $425,000. Verdence Capital Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the third quarter valued at $3,065,000. Finally, Covestor Ltd boosted its stake in Skechers U.S.A. by 18.8% during the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker's stock valued at $112,000 after buying an additional 265 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO David Weinberg sold 8,219 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction 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 approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is owned by company insiders.

Remove Ads

Skechers U.S.A. Stock Up 1.4 %

Shares of SKX traded up $0.77 during mid-day trading on Tuesday, reaching $55.75. The company's stock had a trading volume of 2,840,992 shares, compared to its average volume of 1,990,630. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The business has a fifty day moving average of $67.75 and a 200 day moving average of $66.27. 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., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research analyst reports. UBS Group cut their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Raymond James cut their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Piper Sandler initiated 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 target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $81.25.

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.