Tower Research Capital LLC TRC Purchases 6,668 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Tower Research Capital LLC TRC raised its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 139.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,459 shares of the textile maker's stock after buying an additional 6,668 shares during the quarter. Tower Research Capital LLC TRC's holdings in Skechers U.S.A. were worth $771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SKX. MetLife Investment Management LLC increased its stake in Skechers U.S.A. by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 74,687 shares of the textile maker's stock valued at $5,022,000 after acquiring an additional 5,676 shares during the last quarter. Ostrum Asset Management raised its holdings in shares of Skechers U.S.A. by 71.8% during the 4th quarter. Ostrum Asset Management now owns 14,785 shares of the textile maker's stock worth $994,000 after buying an additional 6,180 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Skechers U.S.A. by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock worth $148,743,000 after buying an additional 357,681 shares during the last quarter. First Trust Advisors LP boosted its stake in Skechers U.S.A. by 13.2% in the fourth quarter. First Trust Advisors LP now owns 313,992 shares of the textile maker's stock valued at $21,113,000 after buying an additional 36,498 shares in the last quarter. Finally, Dnca Finance grew its position in Skechers U.S.A. by 14.1% in the fourth quarter. Dnca Finance now owns 2,157 shares of the textile maker's stock valued at $145,000 after acquiring an additional 267 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,245 shares of company stock worth $13,452,902. Company insiders own 24.78% of the company's stock.

Skechers U.S.A. Stock Down 5.4 %

Shares of NYSE:SKX opened at $47.77 on Friday. The business's 50-day moving average is $54.81 and its 200-day moving average is $62.68. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly 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. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI dropped their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Barclays lowered their price target on shares of Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating for the company in a report on Friday. Stifel Nicolaus cut their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group lowered their target price on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $71.62.

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.

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