Empirical Finance LLC Acquires Shares of 8,249 Skechers U.S.A., Inc. (NYSE:SKX)

Empirical Finance LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,249 shares of the textile maker's stock, valued at approximately $555,000.

A number of other hedge funds have also made changes to their positions in SKX. Empowered Funds LLC boosted its position in shares of Skechers U.S.A. by 7.0% in the 4th quarter. Empowered Funds LLC now owns 116,738 shares of the textile maker's stock worth $7,849,000 after buying an additional 7,657 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of Skechers U.S.A. by 7,326.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 20,422 shares of the textile maker's stock valued at $1,373,000 after purchasing an additional 20,147 shares during the last quarter. Tectonic Advisors LLC increased its stake in shares of Skechers U.S.A. by 9.0% during the 4th quarter. Tectonic Advisors LLC now owns 5,988 shares of the textile maker's stock worth $403,000 after purchasing an additional 494 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $65,000. Finally, Longboard Asset Management LP acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $204,000. 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 several recent research reports. TD Cowen raised their price target 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. Morgan Stanley lifted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Bank of America reduced their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday. Finally, UBS Group cut their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.25.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % 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, COO David Weinberg sold 8,219 shares of the stock in a transaction dated 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 owns 122,211 shares of the company's stock, valued at approximately $8,246,798.28. This trade represents a 6.30 % 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. Trading Down 1.8 %

Shares of SKX traded down $1.14 during mid-day trading on Tuesday, reaching $63.97. The company had a trading volume of 4,311,103 shares, compared to its average volume of 2,509,809. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The firm has a fifty day simple moving average of $70.54 and a 200-day simple moving average of $66.51. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a current ratio of 1.96, a quick ratio of 1.25 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 earnings per share 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 13.81%. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.79 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.