Susquehanna Fundamental Investments LLC Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 141,815 shares of the textile maker's stock, valued at approximately $9,536,000. Susquehanna Fundamental Investments LLC owned approximately 0.09% of Skechers U.S.A. as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after purchasing an additional 358 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after purchasing an additional 239 shares during the period. IFP Advisors Inc increased its holdings in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after purchasing an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SKX. UBS Group reduced their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a research report on Monday, April 14th. TD Cowen raised their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Monness Crespi & Hardt lowered their price objective on shares of Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday. Barclays cut their target price on shares of Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Raymond James reduced their target price on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

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

In other Skechers U.S.A. news, President Michael Greenberg sold 33,656 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,044,938.56. Following the completion of the transaction, the president now owns 137,530 shares in the company, valued at $8,356,322.80. This represents a 19.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now owns 15,000 shares in the company, valued at $849,450. This represents a 42.29 % decrease in their position. 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 three months. 24.78% of the stock is owned by company insiders.

Skechers U.S.A. Trading Down 5.4 %

Shares of SKX opened at $47.77 on Friday. The stock's fifty day simple moving average is $54.81 and its 200 day simple moving average is $62.68. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. 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 capitalization of $7.13 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.

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