MetLife Investment Management LLC Buys 5,676 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

MetLife Investment Management LLC boosted its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 8.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,687 shares of the textile maker's stock after purchasing an additional 5,676 shares during the quarter. MetLife Investment Management LLC's holdings in Skechers U.S.A. were worth $5,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of SKX. NewEdge Advisors LLC grew its stake in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 53.1% during the 4th 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 during the last quarter. IFP Advisors Inc boosted its stake in Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after acquiring an additional 317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 0.6 %

Shares of Skechers U.S.A. stock traded up $0.28 during trading hours on Monday, reaching $48.07. The company's stock had a trading volume of 3,901,690 shares, compared to its average volume of 2,285,136. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock's fifty day simple moving average is $54.81 and its two-hundred day simple moving average is $62.65. The company has a market capitalization of $7.18 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business's revenue was up 7.1% on a year-over-year basis. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the business'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. The trade was a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $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 three months, insiders sold 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of analyst reports. 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 report on Thursday, April 10th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Bank of America cut their target price on shares of 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. TD Cowen boosted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Morgan Stanley lowered their price target on Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. has an average rating of "Moderate Buy" and a consensus target price of $71.62.

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.