Skechers U.S.A., Inc. (NYSE:SKX) Stock Position Increased by Cwm LLC

Cwm LLC boosted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,517 shares of the textile maker’s stock after buying an additional 855 shares during the quarter. Cwm LLC’s holdings in Skechers U.S.A. were worth $282,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SKX. Commonwealth Equity Services LLC lifted its stake in Skechers U.S.A. by 17.5% during the third quarter. Commonwealth Equity Services LLC now owns 60,151 shares of the textile maker’s stock valued at $2,944,000 after buying an additional 8,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Skechers U.S.A. by 10.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,898 shares of the textile maker’s stock valued at $338,000 after acquiring an additional 678 shares in the last quarter. Xponance Inc. boosted its stake in Skechers U.S.A. by 3.9% in the 3rd quarter. Xponance Inc. now owns 17,952 shares of the textile maker’s stock worth $879,000 after purchasing an additional 669 shares during the period. Raymond James & Associates boosted its stake in Skechers U.S.A. by 20.6% in the 3rd quarter. Raymond James & Associates now owns 11,502 shares of the textile maker’s stock worth $563,000 after purchasing an additional 1,961 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Skechers U.S.A. during the 3rd quarter worth approximately $482,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SKX shares. Monness Crespi & Hardt increased their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Wedbush raised their price objective on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Bank of America assumed coverage on Skechers U.S.A. in a research note on Friday, March 8th. They set a “neutral” rating and a $67.00 target price on the stock. Barclays assumed coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target for the company. Finally, TD Cowen boosted their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus target price of $66.83.

Skechers U.S.A. Trading Up 1.6 %

Shares of Skechers U.S.A. stock opened at $67.11 on Friday. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $69.07. The company’s fifty day simple moving average is $60.28 and its 200-day simple moving average is $58.52. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.14 and a beta of 1.29. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $1.02 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.07 EPS for the current year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the transaction, the chief executive officer now directly owns 132,783 shares in the company, valued at $8,114,369.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the transaction, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark A. Nason sold 6,067 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 $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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,875 shares of company stock worth $15,021,192. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company 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.