Raymond James Financial Services Advisors Inc. Has $286,000 Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Raymond James Financial Services Advisors Inc. decreased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 53.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,592 shares of the textile maker’s stock after selling 5,265 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Skechers U.S.A. were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SKX. Huntington National Bank boosted its holdings in shares of Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. during the 3rd quarter worth about $31,000. Intact Investment Management Inc. acquired a new position in Skechers U.S.A. during the 3rd quarter worth about $176,000. CWM LLC lifted its holdings in Skechers U.S.A. by 138.1% during the 3rd quarter. CWM LLC now owns 3,662 shares of the textile maker’s stock worth $179,000 after buying an additional 2,124 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in Skechers U.S.A. during the 3rd quarter worth about $191,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Skechers U.S.A. 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skechers U.S.A. 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 20,226 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 $1,236,010.86. Following the sale, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,875 shares of company stock valued at $15,021,192. Corporate insiders own 24.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SKX shares. Monness Crespi & Hardt lifted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Raymond James cut their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Barclays assumed coverage on Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $68.00 price objective on shares of Skechers U.S.A. in a research report on Friday. Finally, TD Cowen lifted their price objective on 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. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.17.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $58.02 on Tuesday. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $65.17. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.02 and a beta of 1.32. The business has a 50-day simple moving average of $59.64 and a 200 day simple moving average of $57.82. 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. (NYSE:SKX) last issued its earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Skechers U.S.A., Inc. will post 3.82 earnings per share 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.