Intact Investment Management Inc. Grows Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Intact Investment Management Inc. increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 42.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,500 shares of the textile maker's stock after purchasing an additional 6,080 shares during the quarter. Intact Investment Management Inc.'s holdings in Skechers U.S.A. were worth $1,378,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after buying an additional 953,528 shares during the last quarter. Geode Capital Management LLC boosted its stake in Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after buying an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock worth $88,126,000 after buying an additional 17,429 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after buying an additional 287,939 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 in the last quarter. 24.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SKX shares. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Piper Sandler started coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price target on the stock. Evercore ISI upped their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Barclays decreased their price target on 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $81.25.

Skechers U.S.A. Trading Up 0.6 %

SKX traded up $0.36 during mid-day trading on Wednesday, hitting $57.45. 1,498,207 shares of the stock were exchanged, compared to its average volume of 2,000,213. The firm's fifty day moving average is $66.32 and its two-hundred day moving average is $65.74. 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 current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.58 billion, a PE ratio of 13.84, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly 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 return on equity of 13.73% and a net margin of 7.13%. Equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.