Russell Investments Group Ltd. Boosts Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Russell Investments Group Ltd. boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 33.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,518 shares of the textile maker's stock after acquiring an additional 26,405 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Skechers U.S.A. worth $7,028,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Spire Wealth Management increased its holdings in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock valued at $1,228,000 after buying an additional 157 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Skechers U.S.A. by 4.7% during the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock valued at $302,000 after acquiring an additional 200 shares during the period. Blue Trust Inc. boosted its stake in shares of Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after acquiring an additional 207 shares in the last quarter. Finally, X Square Capital LLC grew its holdings in shares of Skechers U.S.A. by 0.5% in the 4th quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock worth $2,880,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company's stock, valued at $849,450. The trade was a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 in the last ninety days. Insiders own 24.75% of the company's stock.

Skechers U.S.A. Stock Up 0.3 %

Shares of NYSE:SKX opened at $49.47 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.08. The stock's 50-day moving average price is $58.55 and its two-hundred day moving average price is $63.96. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its 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 return on equity of 13.73% and a net margin of 7.13%. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Bank of America dropped 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 report on Monday, March 24th. StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Raymond James dropped their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, UBS Group reduced their target price on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.92.

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.

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