Vontobel Holding Ltd. Invests $326,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Vontobel Holding Ltd. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,855 shares of the textile maker's stock, valued at approximately $326,000.

Several other institutional investors have also bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Commerce Bank boosted its stake in Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker's stock worth $31,303,000 after purchasing an additional 423,204 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock worth $33,382,000 after purchasing an additional 394,618 shares in the last quarter. Wellington Management Group LLP boosted its stake in Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after purchasing an additional 287,939 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Skechers U.S.A. by 68.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker's stock worth $41,940,000 after purchasing an additional 253,045 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Trading Down 4.0 %

NYSE SKX traded down $2.64 on Friday, reaching $63.01. The company had a trading volume of 2,822,836 shares, compared to its average volume of 2,553,836. The stock's 50 day moving average is $69.61 and its 200-day moving average is $66.53. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.12 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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%. Equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

SKX has been the topic of a number of recent analyst reports. Raymond James reduced their price objective 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. Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Barclays cut their price target on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen upped their price target 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. has a consensus rating of "Moderate Buy" and an average target price of $81.25.

Insiders Place Their Bets

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the sale, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. This represents a 31.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company's stock, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,139 shares of company stock worth $7,600,899 over the last ninety days. 24.75% of the stock is currently owned by corporate insiders.

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.