International Assets Investment Management LLC Grows Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

International Assets Investment Management LLC raised its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 13,753.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,468 shares of the textile maker’s stock after purchasing an additional 12,378 shares during the quarter. International Assets Investment Management LLC’s holdings in Skechers U.S.A. were worth $777,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in Skechers U.S.A. by 126.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,374 shares of the textile maker’s stock worth $647,000 after buying an additional 5,797 shares in the last quarter. OPTIMAS CAPITAL Ltd bought a new stake in Skechers U.S.A. during the 4th quarter valued at approximately $1,209,000. Oak Thistle LLC purchased a new position in Skechers U.S.A. in the 4th quarter worth approximately $483,000. Symphony Financial Ltd. Co. bought a new position in Skechers U.S.A. in the 4th quarter worth approximately $289,000. Finally, Planned Solutions Inc. purchased a new stake in Skechers U.S.A. during the 4th quarter valued at approximately $70,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $59.64 on Wednesday. The stock has a market cap of $9.14 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $65.17. The business has a 50-day simple moving average of $59.65 and a 200-day simple moving average of $57.90. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.04. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. On average, equities analysts expect that Skechers U.S.A., Inc. will post 3.82 EPS for the current year.

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

In other news, CEO Robert Greenberg sold 99,139 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Robert Greenberg sold 99,139 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 transaction of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Michael Greenberg sold 25,282 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,544,983.02. Following the completion of the sale, the president now owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,875 shares of company stock worth $15,021,192. Corporate insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SKX. Evercore ISI cut their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Bank of America began coverage on Skechers U.S.A. in a research note on Friday, March 8th. They set a “neutral” rating and a $67.00 price target for the company. Raymond James decreased their price objective 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 started coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price for the company. Finally, TD Cowen lifted their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.17.

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.