Proficio Capital Partners LLC Makes New $2.38 Million Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Proficio Capital Partners LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,368 shares of the textile maker's stock, valued at approximately $2,378,000.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position 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 purchasing an additional 239 shares during the period. IFP Advisors Inc increased its position in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after acquiring an additional 317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth about $65,000. Brooklyn Investment Group purchased a new stake in shares of Skechers U.S.A. during the third quarter worth about $67,000. Finally, Blue Trust Inc. increased its position in shares of 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 acquiring an additional 207 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,738 shares of company stock valued at $14,700,809. Corporate insiders own 24.75% of the company's stock.

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Skechers U.S.A. Price Performance

NYSE:SKX traded down $0.26 during midday trading on Friday, hitting $56.11. 2,545,145 shares of the stock were exchanged, compared to its average volume of 2,011,620. Skechers U.S.A., Inc. has a one year low of $53.79 and a one year high of $78.85. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.11 and a beta of 1.21. The business has a 50-day moving average price of $65.55 and a two-hundred day moving average price of $65.53. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SKX. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Evercore ISI lifted 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 dropped their target price on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Barclays decreased their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.25.

About Skechers U.S.A.

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.