GHP Investment Advisors Inc. Acquires 20,147 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

GHP Investment Advisors Inc. increased its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 7,326.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,422 shares of the textile maker's stock after purchasing an additional 20,147 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Skechers U.S.A. were worth $1,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning raised its position in shares of Skechers U.S.A. by 15.7% during the 2nd quarter. Creative Planning now owns 9,504 shares of the textile maker's stock valued at $657,000 after acquiring an additional 1,292 shares during the last quarter. Truist Financial Corp increased its holdings in Skechers U.S.A. by 40.8% in the second quarter. Truist Financial Corp now owns 24,172 shares of the textile maker's stock valued at $1,671,000 after purchasing an additional 7,004 shares during the last quarter. Cetera Investment Advisers increased its holdings in Skechers U.S.A. by 32.9% in the second quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker's stock valued at $1,729,000 after purchasing an additional 6,193 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Skechers U.S.A. in the second quarter valued at about $1,027,000. Finally, GAMMA Investing LLC boosted its holdings in Skechers U.S.A. by 89.6% during the third quarter. GAMMA Investing LLC now owns 2,215 shares of the textile maker's stock worth $148,000 after buying an additional 1,047 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of analyst reports. StockNews.com upgraded shares of Skechers U.S.A. from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Stifel Nicolaus cut their target price 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. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price target for the company. Raymond James dropped their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Friday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Skechers U.S.A. Stock Down 12.6 %

Shares of SKX stock traded down $9.56 on Friday, hitting $66.06. 10,536,456 shares of the stock were exchanged, compared to its average volume of 1,980,609. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $9.97 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The business has a 50-day moving average of $70.55 and a 200 day moving average of $66.48.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly 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 return on equity of 13.81% and a net margin of 7.13%. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Insider Buying and Selling

In related news, President Michael Greenberg sold 10,274 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company's stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

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.