Ostrum Asset Management Has $994,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Ostrum Asset Management boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 71.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,785 shares of the textile maker’s stock after acquiring an additional 6,180 shares during the quarter. Ostrum Asset Management’s holdings in Skechers U.S.A. were worth $994,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SKX. Te Ahumairangi Investment Management Ltd grew its stake in shares of Skechers U.S.A. by 31.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock valued at $5,985,000 after purchasing an additional 21,275 shares during the period. World Investment Advisors LLC bought a new stake in Skechers U.S.A. in the third quarter valued at $1,182,000. Tidal Investments LLC raised its stake in Skechers U.S.A. by 24.3% during the third quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock worth $3,468,000 after acquiring an additional 10,122 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at $2,752,000. Finally, Fiduciary Financial Group LLC acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at $298,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SKX shares. UBS Group dropped their target price on shares of Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, April 14th. TD Cowen raised their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Raymond James reduced their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Bank of America cut their price objective on 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.67.

Insider Activity

In other news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock valued at $13,452,902 in the last 90 days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $47.53 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The stock has a market capitalization of $7.10 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.11 and a beta of 1.08. The business has a 50-day moving average price of $56.42 and a two-hundred day moving average price of $63.29.

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 for the quarter, missing analysts’ consensus estimates 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%. Equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.