LPL Financial LLC Buys 17,791 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

LPL Financial LLC increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 29.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,976 shares of the textile maker's stock after buying an additional 17,791 shares during the quarter. LPL Financial LLC owned about 0.05% of Skechers U.S.A. worth $5,243,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Skechers U.S.A. during the fourth quarter worth $1,836,000. TD Private Client Wealth LLC raised its holdings in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares during the period. Magnetar Financial LLC purchased a new stake in Skechers U.S.A. during the fourth quarter valued at about $905,000. Teacher Retirement System of Texas boosted its holdings in shares of Skechers U.S.A. by 8.6% in the fourth quarter. Teacher Retirement System of Texas now owns 57,926 shares of the textile maker's stock worth $3,895,000 after buying an additional 4,599 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Skechers U.S.A. by 6.4% in the fourth quarter. Xponance Inc. now owns 17,737 shares of the textile maker's stock worth $1,193,000 after buying an additional 1,072 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Evercore ISI raised their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday. Bank of America lowered 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. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Barclays lowered their price objective 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 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.92.

Remove Ads

Insider Activity

In related news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Price Performance

Shares of SKX traded up $0.12 during trading hours on Friday, hitting $49.47. The stock had a trading volume of 3,786,343 shares, compared to its average volume of 2,236,894. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.08. The company's fifty day moving average is $58.55 and its two-hundred day moving average is $63.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data 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%. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Skechers U.S.A. 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.