Magnetar Financial LLC Buys Shares of 13,463 Skechers U.S.A., Inc. (NYSE:SKX)

Magnetar Financial LLC purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,463 shares of the textile maker's stock, valued at approximately $905,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKX. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after buying an additional 239 shares in the last quarter. IFP Advisors Inc increased its stake in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after purchasing an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. in the 4th quarter valued at approximately $65,000. Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the third quarter worth $67,000. Finally, Blue Trust Inc. boosted its position in 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. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SKX. Bank of America dropped their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday. Evercore ISI lifted their target price on shares of 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. 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. UBS Group dropped their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $80.42.

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Insider Activity

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares of the company's stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. 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 completion of the transaction, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. This trade 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 currently owned by insiders.

Skechers U.S.A. Stock Down 0.0 %

NYSE SKX traded down $0.01 during trading hours on Wednesday, reaching $57.34. 1,544,964 shares of the company traded hands, compared to its average volume of 2,015,525. The company has a 50 day moving average of $65.02 and a two-hundred day moving average of $65.38. The stock has a market capitalization of $8.56 billion, a PE ratio of 13.82, 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 current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.