Fort Washington Investment Advisors Inc. OH Cuts Position in Skechers U.S.A., Inc. (NYSE:SKX)

Fort Washington Investment Advisors Inc. OH decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 13.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,725 shares of the textile maker’s stock after selling 568 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Skechers U.S.A. were worth $250,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings 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 valued at $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Commerce Bank grew its holdings 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 valued at $31,303,000 after purchasing an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. grew its holdings 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 valued at $33,382,000 after purchasing an additional 394,618 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 valued at $68,630,000 after purchasing an additional 287,939 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Skechers U.S.A. by 646.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker’s stock valued at $22,348,000 after purchasing an additional 280,000 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC assumed coverage on Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Piper Sandler started 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 on the stock. TD Cowen increased 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. Deutsche Bank Aktiengesellschaft increased 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. Finally, Barclays increased their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.00.

Skechers U.S.A. Stock Up 3.1 %

Shares of NYSE:SKX opened at $75.71 on Friday. The stock’s 50-day moving average price is $67.50 and its two-hundred day moving average price is $65.76. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $76.06. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.90 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the firm’s 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 transaction, the chief operating officer now owns 122,211 shares in the company, valued at approximately $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. 24.75% of the stock is 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.