Ostrum Asset Management Raises Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Ostrum Asset Management boosted its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 71.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,785 shares of the textile maker's stock after purchasing an additional 6,180 shares during the period. Ostrum Asset Management's holdings in Skechers U.S.A. were worth $994,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management boosted its stake in shares of Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after acquiring an additional 155 shares during the period. Calamos Wealth Management LLC boosted its position in Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock worth $1,228,000 after purchasing an additional 157 shares during the period. Cerity Partners LLC boosted its position in Skechers U.S.A. by 1.2% during the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock worth $947,000 after purchasing an additional 172 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Skechers U.S.A. by 4.7% in the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after purchasing an additional 200 shares during the period. Institutional investors own 79.96% of the company's stock.

Insider Activity at Skechers U.S.A.

In related news, COO David Weinberg sold 36,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the transaction, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 owns 61,367 shares of the company's stock, 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. Insiders have sold 218,245 shares of company stock valued at $13,452,902 over the last ninety days. Insiders own 24.78% of the company's stock.

Skechers U.S.A. Trading Down 5.4 %

Shares of NYSE:SKX traded down $2.72 during midday trading on Friday, hitting $47.77. 6,381,384 shares of the stock traded hands, compared to its average volume of 2,301,569. The stock has a market capitalization of $7.13 billion, a PE ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The business's 50 day moving average is $55.20 and its two-hundred day moving average is $62.83. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.43 billion. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SKX has been the subject of several research analyst reports. Raymond James reduced their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Bank of America decreased 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 report on Monday, March 24th. Barclays lowered their target price on Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday. Morgan Stanley lowered their target price on shares of Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and an average target price of $71.62.

Skechers U.S.A. Company 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.