ExodusPoint Capital Management LP Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

ExodusPoint Capital Management LP purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 97,574 shares of the textile maker's stock, valued at approximately $6,561,000. ExodusPoint Capital Management LP owned about 0.06% of Skechers U.S.A. at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Spire Wealth Management boosted its position in Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after purchasing an additional 155 shares during the period. Calamos Wealth Management LLC raised its holdings in Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock worth $1,228,000 after acquiring an additional 157 shares during the period. Independent Advisor Alliance lifted its position in Skechers U.S.A. by 4.7% during the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after acquiring an additional 200 shares during the last quarter. Blue Trust Inc. boosted its holdings in Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock valued at $81,000 after acquiring an additional 207 shares during the period. Finally, X Square Capital LLC grew its position in shares of Skechers U.S.A. by 0.5% in the fourth quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock valued at $2,880,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

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Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 approximately $849,450. This trade represents a 42.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. Corporate insiders own 24.75% of the company's stock.

Skechers U.S.A. Price Performance

SKX stock traded down $2.19 during trading on Thursday, hitting $48.40. The company had a trading volume of 1,719,065 shares, compared to its average volume of 2,205,356. The company has a fifty day moving average price of $59.51 and a two-hundred day moving average price of $64.21. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The company has a market cap of $7.23 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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 13.73%. Equities research analysts expect 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 several research analyst reports. Bank of America cut their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday. TD Cowen boosted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $78.92.

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.