First Trust Advisors LP Acquires 36,498 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

First Trust Advisors LP raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 313,992 shares of the textile maker's stock after purchasing an additional 36,498 shares during the period. First Trust Advisors LP owned 0.21% of Skechers U.S.A. worth $21,113,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Spire Wealth Management raised its stake in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after buying an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in shares of 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 valued at $1,228,000 after acquiring an additional 157 shares during the period. Cerity Partners LLC raised its position in shares of Skechers U.S.A. by 1.2% in the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after acquiring an additional 172 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $47.77 on Friday. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The business's 50 day moving average price is $54.81 and its 200 day moving average price is $62.68. 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 firm has a market cap of $7.13 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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

In other Skechers U.S.A. news, 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 transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Greenberg sold 33,656 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the transaction, the president now owns 137,530 shares of the company's stock, valued at approximately $8,356,322.80. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,245 shares of company stock worth $13,452,902. Insiders own 24.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SKX. Raymond James reduced 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 report on Friday, February 7th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their price objective on Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating for the company in a report on Friday. Finally, StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.62.

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.

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