Keystone Investors PTE Ltd. Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Keystone Investors PTE Ltd. bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 40,500 shares of the textile maker's stock, valued at approximately $2,723,000.

Other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its stake in Skechers U.S.A. by 88.1% during the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker's stock valued at $1,822,000 after buying an additional 13,836 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Skechers U.S.A. during the 4th quarter valued at about $12,852,000. National Bank of Canada FI grew its holdings in shares of Skechers U.S.A. by 2,340.0% during the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock worth $4,732,000 after purchasing an additional 67,812 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Skechers U.S.A. by 1.3% in 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 purchasing an additional 17,429 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock valued at $8,069,000 after purchasing an additional 15,874 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Down 1.6 %

NYSE:SKX traded down $0.90 during mid-day trading on Friday, reaching $56.90. 2,024,376 shares of the company's stock traded hands, compared to its average volume of 2,075,581. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12-month low of $53.79 and a 12-month high of $78.85. The company has a 50 day moving average price of $64.28 and a 200-day moving average price of $65.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

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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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. On average, sell-side analysts predict 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 news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SKX. 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 report on Friday, February 7th. Bank of America reduced their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Evercore ISI increased their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, TD Cowen boosted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and an average price target of $80.42.

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.