CreativeOne Wealth LLC Takes $693,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

CreativeOne Wealth LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, HoldingsChannel reports. The firm acquired 10,307 shares of the textile maker’s stock, valued at approximately $693,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its position in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares in the last quarter. UMB Bank n.a. increased its position in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after buying an additional 239 shares during the last quarter. IFP Advisors Inc raised its holdings in Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth about $65,000. Finally, Blue Trust Inc. boosted its stake in shares of Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SKX. UBS Group reduced their price objective on shares of Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Raymond James dropped their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Barclays reduced their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.67.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock worth $13,452,902 in the last ninety days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Price Performance

Shares of SKX opened at $47.53 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $56.42 and its 200 day simple moving average is $63.32. 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 cap of $7.10 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.