Stephens Inc. AR Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Stephens Inc. AR purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,392 shares of the textile maker's stock, valued at approximately $632,000.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Commerce Bank lifted its holdings in shares of Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock valued at $31,303,000 after purchasing an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Skechers U.S.A. by 378.6% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock valued at $33,382,000 after purchasing an additional 394,618 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after purchasing an additional 287,939 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in Skechers U.S.A. during the 3rd quarter valued at approximately $16,790,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

SKX traded up $2.41 during trading on Tuesday, reaching $66.51. The stock had a trading volume of 1,098,388 shares, compared to its average volume of 2,503,698. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The stock has a 50 day moving average of $69.86 and a two-hundred day moving average of $66.49.

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 for the quarter, missing analysts' consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.79 EPS for the current fiscal year.

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

In other news, President Michael Greenberg sold 10,274 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David Weinberg sold 36,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,093 shares of company stock valued at $6,804,900. Corporate insiders own 24.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SKX shares. Piper Sandler assumed coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price objective for the company. Stifel Nicolaus dropped their price objective on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, October 25th. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, UBS Group dropped their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.25.

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.