Empire Life Investments Inc. Makes New $1.68 Million Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Empire Life Investments Inc. acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,966 shares of the textile maker's stock, valued at approximately $1,679,000.

A number of other institutional investors have also recently made changes to their positions in SKX. UMB Bank n.a. grew its position in 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 purchasing an additional 239 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after buying an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at $65,000. Brooklyn Investment Group purchased a new position in Skechers U.S.A. in the 3rd quarter worth $67,000. Finally, Blue Trust Inc. raised its stake in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock worth $69,000 after acquiring an additional 887 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Stifel Nicolaus cut their price target 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. Raymond James decreased their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.25.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, 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 value of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Nason sold 12,046 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares of the company's stock, valued at $1,696,604. The trade was a 31.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,139 shares of company stock valued at $7,600,899. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded down $0.93 on Wednesday, reaching $66.04. The company's stock had a trading volume of 2,044,702 shares, compared to its average volume of 2,569,671. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The company has a market capitalization of $9.97 billion, a P/E ratio of 15.91, a PEG ratio of 1.08 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $69.79 and a 200-day moving average price of $66.54.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data 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%. Analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.