22,561 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by Delphi Management Inc. MA

Delphi Management Inc. MA bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,561 shares of the textile maker’s stock, valued at approximately $1,517,000. Skechers U.S.A. makes up about 1.5% of Delphi Management Inc. MA’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Natixis Advisors LLC grew its holdings in shares of Skechers U.S.A. by 1.6% during the fourth quarter. Natixis Advisors LLC now owns 203,410 shares of the textile maker’s stock worth $13,677,000 after purchasing an additional 3,122 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of Skechers U.S.A. by 10.3% during the fourth quarter. Brandes Investment Partners LP now owns 12,891 shares of the textile maker’s stock worth $867,000 after purchasing an additional 1,200 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Skechers U.S.A. by 61.1% during the fourth quarter. Picton Mahoney Asset Management now owns 9,026 shares of the textile maker’s stock worth $607,000 after purchasing an additional 3,423 shares in the last quarter. Intact Investment Management Inc. grew its holdings in shares of Skechers U.S.A. by 42.2% during the fourth quarter. Intact Investment Management Inc. now owns 20,500 shares of the textile maker’s stock worth $1,378,000 after purchasing an additional 6,080 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Skechers U.S.A. by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 41,120 shares of the textile maker’s stock worth $2,765,000 after purchasing an additional 4,128 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $57.45 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The stock has a 50 day moving average price of $66.58 and a two-hundred day moving average price of $65.82. The company has a market capitalization of $8.58 billion, a P/E ratio of 13.84, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. Analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity

In other news, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,738 shares of company stock valued at $14,700,809. Company insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

SKX has been the subject of several recent analyst reports. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James dropped their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.