576 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, HoldingsChannel reports. The fund purchased 576 shares of the textile maker’s stock, valued at approximately $36,000.

Several other large investors have also made changes to their positions in SKX. CWM LLC raised its stake in Skechers U.S.A. by 23.3% during the 4th quarter. CWM LLC now owns 4,517 shares of the textile maker’s stock valued at $282,000 after purchasing an additional 855 shares during the period. Pathway Financial Advisors LLC purchased a new stake in Skechers U.S.A. in the 4th quarter worth $226,000. United Asset Strategies Inc. bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $1,496,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at about $1,587,000. Finally, Phocas Financial Corp. increased its holdings in shares of Skechers U.S.A. by 81.0% in the fourth quarter. Phocas Financial Corp. now owns 120,590 shares of the textile maker’s stock worth $7,518,000 after purchasing an additional 53,981 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the business’s 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 sale, 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 filing with the SEC, which is available through this link. In other news, EVP Mark A. Nason sold 6,067 shares of Skechers U.S.A. stock in a transaction that occurred 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 owns 14,023 shares of the company’s stock, valued at $856,945.53. The transaction was disclosed in a legal 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 that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,875 shares of company stock worth $15,021,192. Insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

SKX has been the subject of several research analyst reports. Raymond James cut their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Monness Crespi & Hardt increased their price objective on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Evercore ISI reduced their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, TD Cowen increased their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

Skechers U.S.A. Stock Up 1.6 %

Shares of NYSE:SKX opened at $67.10 on Friday. The firm has a market capitalization of $10.29 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The business has a 50 day simple moving average of $60.42 and a two-hundred day simple moving average of $58.70. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $69.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business earned $1.02 EPS. Skechers U.S.A.’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.07 EPS for the current 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.