Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Invesco Ltd.

Invesco Ltd. lifted its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,378 shares of the textile maker's stock after purchasing an additional 67,483 shares during the period. Invesco Ltd. owned about 0.26% of Skechers U.S.A. worth $26,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management grew its stake in Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after acquiring an additional 155 shares during the period. Calamos Wealth Management LLC raised its position in Skechers U.S.A. by 0.9% during the fourth 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. Cerity Partners LLC lifted its holdings in Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after purchasing an additional 172 shares in the last quarter. Independent Advisor Alliance grew its position in shares of Skechers U.S.A. by 4.7% in 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 during the period. Finally, Blue Trust Inc. increased its stake in shares of 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 worth $81,000 after purchasing an additional 207 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction that occurred 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 $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SKX has been the topic of a number of research reports. Raymond James decreased 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 research note on Friday, February 7th. Bank of America reduced 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 note on Monday, March 24th. 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. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday. Finally, Barclays lowered their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of "Moderate Buy" and an average target price of $74.67.

Skechers U.S.A. Trading Up 1.8 %

Shares of NYSE:SKX traded up $0.87 during midday trading on Wednesday, reaching $48.90. 2,324,646 shares of the company's stock were exchanged, compared to its average volume of 2,261,693. The firm's 50 day simple moving average is $55.77 and its two-hundred day simple moving average is $63.03. 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 debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS 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.