Russell Investments Group Ltd. Raises Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Russell Investments Group Ltd. lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 187.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 141,244 shares of the textile maker’s stock after acquiring an additional 92,082 shares during the period. Russell Investments Group Ltd.’s holdings in Skechers U.S.A. were worth $8,806,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Truist Financial Corp grew its stake in shares of Skechers U.S.A. by 122.0% during the fourth quarter. Truist Financial Corp now owns 15,863 shares of the textile maker’s stock worth $989,000 after acquiring an additional 8,716 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $299,000. Atria Wealth Solutions Inc. purchased a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $224,000. Bfsg LLC boosted its position in Skechers U.S.A. by 2.9% in the fourth quarter. Bfsg LLC now owns 6,545 shares of the textile maker’s stock valued at $408,000 after buying an additional 186 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in Skechers U.S.A. by 0.7% in the fourth quarter. Yousif Capital Management LLC now owns 64,770 shares of the textile maker’s stock valued at $4,038,000 after buying an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays assumed coverage on Skechers U.S.A. in a research report on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price on the stock. Stifel Nicolaus dropped their target price on 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. Raymond James dropped their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Bank of America assumed coverage on Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Wedbush raised their price objective on shares of Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $66.81 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The firm has a market cap of $10.24 billion, a PE ratio of 17.58, a PEG ratio of 1.17 and a beta of 1.29. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $69.07. The firm has a fifty day moving average of $60.55 and a 200 day moving average of $58.90.

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

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

In other news, COO David Weinberg sold 67,390 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value 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 $8,183,107.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction dated 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 directly owns 132,783 shares in the company, valued at $8,114,369.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at $8,183,107.35. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 over the last quarter. 24.75% of the stock is currently owned by 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.