Mirae Asset Global Investments Co. Ltd. Has $1.06 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,041 shares of the textile maker’s stock after selling 1,490 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Skechers U.S.A. were worth $1,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank grew its stake in Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Skechers U.S.A. during the 3rd quarter valued at $31,000. Planned Solutions Inc. acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth $70,000. Gateway Investment Advisers LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $204,000. Finally, Intact Investment Management Inc. acquired a new position in Skechers U.S.A. in the 3rd quarter worth about $176,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 2.8 %

Skechers U.S.A. stock opened at $59.64 on Wednesday. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $65.17. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The business has a 50 day moving average price of $59.65 and a two-hundred day moving average price of $57.90. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, topping the consensus estimate of $0.52 by $0.04. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. Skechers U.S.A.’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. As a group, equities analysts forecast that Skechers U.S.A., Inc. will post 3.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James dropped their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Monness Crespi & Hardt upped their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. TD Cowen upped their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wedbush reissued an “outperform” rating and issued a $68.00 price target on shares of Skechers U.S.A. in a research report on Friday, April 19th. Finally, Bank of America started coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.17.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the transaction, the chief executive officer now owns 132,783 shares in the company, valued at $8,114,369.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Skechers U.S.A. news, President Michael Greenberg sold 25,282 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the transaction, the president now directly owns 123,441 shares in the company, valued at $7,543,479.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock valued at $15,021,192 over the last quarter. 24.75% of the stock is owned by company 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.