Inceptionr LLC Makes New $705,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Inceptionr LLC purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,483 shares of the textile maker's stock, valued at approximately $705,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after acquiring an additional 2,594,507 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Commerce Bank boosted its stake in Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock worth $31,303,000 after purchasing an additional 423,204 shares in the last quarter. Wellington Management Group LLP grew its position in Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after purchasing an additional 287,939 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Skechers U.S.A. by 68.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock valued at $41,940,000 after purchasing an additional 253,045 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently commented on SKX. Raymond James cut their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Friday, February 7th. TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Barclays dropped their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $81.25.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.77 on Tuesday, hitting $55.75. 2,840,992 shares of the company's stock were exchanged, compared to its average volume of 1,990,630. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85. The company has a 50-day simple moving average of $67.75 and a 200-day simple moving average of $66.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock has a market capitalization of $8.42 billion, a PE ratio of 13.43, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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%. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is owned by company insiders.

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.