3,091 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, Holdings Channel reports. The firm purchased 3,091 shares of the textile maker’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sanctuary Advisors LLC grew its holdings in Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after purchasing an additional 13,836 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Skechers U.S.A. during the 4th quarter worth $12,852,000. National Bank of Canada FI raised its position in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after buying an additional 67,812 shares during the period. Assenagon Asset Management S.A. grew its position in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after acquiring an additional 15,874 shares during the period. Finally, Nordea Investment Management AB purchased a new stake in Skechers U.S.A. during the fourth quarter valued at about $2,752,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. 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. Bank of America dropped their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, TD Cowen upped their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $80.42.

Insider Buying and Selling

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. This trade represents a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,245 shares of company stock worth $13,452,902. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $50.29 on Friday. Skechers U.S.A., Inc. has a 52-week low of $45.69 and a 52-week high of $78.85. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.11 and a beta of 1.08. The business’s 50 day moving average is $62.35 and its two-hundred day moving average is $64.80.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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 forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.