Nordea Investment Management AB Acquires Shares of 40,645 Skechers U.S.A., Inc. (NYSE:SKX)

Nordea Investment Management AB bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,645 shares of the textile maker's stock, valued at approximately $2,752,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Seven Eight Capital LP increased its stake in Skechers U.S.A. by 126.1% during the second quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker's stock worth $2,033,000 after acquiring an additional 16,408 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Skechers U.S.A. by 88.1% in the 3rd 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. Victory Capital Management Inc. raised its holdings in shares of Skechers U.S.A. by 22.3% in the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker's stock valued at $9,295,000 after buying an additional 25,289 shares during the period. Transform Wealth LLC purchased a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at $7,186,000. Finally, National Bank of Canada FI raised its holdings in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock valued at $4,732,000 after buying an additional 67,812 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 1.0 %

Shares of NYSE:SKX traded up $0.72 on Friday, hitting $70.03. 1,301,814 shares of the company's stock were exchanged, compared to its average volume of 1,419,518. The firm's 50-day moving average is $66.03 and its 200 day moving average is $65.56. The company has a market capitalization of $10.57 billion, a PE ratio of 17.25, a P/E/G ratio of 0.98 and a beta of 1.19. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 EPS. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

Wall Street Analysts Forecast Growth

SKX has been the topic of several research analyst reports. Barclays boosted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, October 25th. TD Cowen boosted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America cut their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Morgan Stanley upped their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, Needham & Company LLC began coverage on Skechers U.S.A. in a report on Friday, November 22nd. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. has a consensus rating of "Moderate Buy" and an average price target of $78.42.

Insider Activity at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the company's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares of the company's stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now directly owns 149,327 shares of the company's stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.75% of the company's stock.

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.