Envestnet Asset Management Inc. Buys 5,612 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Envestnet Asset Management Inc. lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 181,763 shares of the textile maker's stock after purchasing an additional 5,612 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Skechers U.S.A. worth $12,222,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SKX. Vanguard Group Inc. increased its holdings in Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after purchasing an additional 82,143 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after buying an additional 953,528 shares during the period. Geode Capital Management LLC raised its holdings in Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after buying an additional 78,071 shares during the last quarter. Norges Bank bought a new stake in Skechers U.S.A. during the 4th quarter worth approximately $105,741,000. Finally, Wellington Management Group LLP grew its holdings in Skechers U.S.A. by 6.3% during the 4th quarter. Wellington Management Group LLP now owns 1,090,413 shares of the textile maker's stock worth $73,319,000 after acquiring an additional 64,857 shares during the period. Institutional investors own 79.96% of the company's stock.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,245 shares of company stock worth $13,452,902. Insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 5.6 %

NYSE SKX traded up $2.71 on Wednesday, reaching $50.74. The company had a trading volume of 570,463 shares, compared to its average volume of 2,850,377. 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 company's fifty day moving average is $55.77 and its 200 day moving average is $63.03. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The stock has a market capitalization of $7.58 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SKX shares. Evercore ISI lowered 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 note on Thursday, April 17th. TD Cowen upped their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Raymond James reduced their target price on 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. Barclays decreased their target price on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. 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 research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of "Moderate Buy" and a consensus target price of $74.67.

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.