Cetera Investment Advisers Purchases 951 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cetera Investment Advisers lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,166 shares of the textile maker’s stock after buying an additional 951 shares during the quarter. Cetera Investment Advisers’ holdings in Skechers U.S.A. were worth $2,230,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Brevan Howard Capital Management LP grew its stake in shares of Skechers U.S.A. by 102.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 42,245 shares of the textile maker’s stock valued at $2,841,000 after buying an additional 21,363 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Skechers U.S.A. by 8.9% in the 4th quarter. Captrust Financial Advisors now owns 5,624 shares of the textile maker’s stock valued at $378,000 after buying an additional 461 shares in the last quarter. Baldwin Investment Management LLC grew its stake in shares of Skechers U.S.A. by 12.7% in the 4th quarter. Baldwin Investment Management LLC now owns 11,575 shares of the textile maker’s stock valued at $778,000 after buying an additional 1,300 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Skechers U.S.A. in the 4th quarter worth approximately $2,542,000. Finally, Bwcp LP lifted its holdings in Skechers U.S.A. by 21.9% in the 4th quarter. Bwcp LP now owns 377,024 shares of the textile maker’s stock worth $25,351,000 after purchasing an additional 67,635 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.0%

Shares of SKX stock opened at $62.10 on Monday. The stock has a 50 day moving average of $53.86 and a 200-day moving average of $62.11. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.29 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Skechers U.S.A.’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 40,924 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the transaction, the chief executive officer now directly owns 51,342 shares in the company, valued at $3,119,539.92. This represents a 44.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares of the company’s stock, valued at $849,450. This represents a 42.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,645 shares of company stock worth $7,895,910. 24.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SKX shares. Barclays restated an “equal weight” rating and issued a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Morgan Stanley restated an “equal weight” rating and issued a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Evercore ISI reduced their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company boosted their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Bank of America reduced their target price on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. has a consensus rating of “Hold” and a consensus price target of $70.00.

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.