Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 13,753.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,468 shares of the textile maker’s stock after buying an additional 12,378 shares during the quarter. International Assets Investment Management LLC’s holdings in Skechers U.S.A. were worth $777,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank raised its stake in Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Skechers U.S.A. during the third quarter worth approximately $31,000. Planned Solutions Inc. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth $70,000. Gateway Investment Advisers LLC purchased a new position in shares of Skechers U.S.A. in the 4th quarter valued at $204,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Skechers U.S.A. during the 3rd quarter valued at $176,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SKX. Evercore ISI cut their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Barclays initiated coverage on Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. TD Cowen boosted their target price on shares of 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 reaffirmed an “outperform” rating and set a $68.00 price target on shares of Skechers U.S.A. in a report on Friday, April 19th. Finally, Stifel Nicolaus cut their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.17.

Insider Buying and Selling at Skechers U.S.A.

In other news, EVP Mark A. Nason sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the sale, the executive vice president now directly owns 14,023 shares in the company, valued at approximately $856,945.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark A. Nason sold 6,067 shares of Skechers U.S.A. stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the transaction, the executive vice president now directly owns 14,023 shares of the company’s stock, valued at approximately $856,945.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock worth $15,021,192 over the last quarter. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Trading Up 2.8 %

SKX opened at $59.64 on Wednesday. The stock has a market capitalization of $9.14 billion, a PE ratio of 17.09, a P/E/G ratio of 1.02 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $65.17. The firm’s fifty day moving average price is $59.65 and its 200 day moving average price is $57.90.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. As a group, research analysts expect that Skechers U.S.A., Inc. will post 3.82 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.