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

Cetera Investment Advisers lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,166 shares of the textile maker’s stock after purchasing an additional 951 shares during the period. Cetera Investment Advisers’ holdings in Skechers U.S.A. were worth $2,230,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Brevan Howard Capital Management LP grew its holdings in shares of Skechers U.S.A. by 102.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 42,245 shares of the textile maker’s stock worth $2,841,000 after purchasing an additional 21,363 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Skechers U.S.A. by 8.9% during the fourth quarter. Captrust Financial Advisors now owns 5,624 shares of the textile maker’s stock worth $378,000 after purchasing an additional 461 shares during the last quarter. Baldwin Investment Management LLC grew its holdings in shares of Skechers U.S.A. by 12.7% during the fourth quarter. Baldwin Investment Management LLC now owns 11,575 shares of the textile maker’s stock worth $778,000 after purchasing an additional 1,300 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Skechers U.S.A. during the fourth quarter worth $2,542,000. Finally, Bwcp LP grew its holdings in shares of Skechers U.S.A. by 21.9% during the fourth 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 Performance

Shares of NYSE:SKX opened at $62.10 on Monday. The stock has a market capitalization of $9.29 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.11 and a beta of 1.06. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The business has a 50-day moving average price of $53.86 and a two-hundred day moving average price of $62.11. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The company 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%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 EPS. Equities analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In other news, EVP Mark A. Nason sold 12,046 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now directly owns 25,675 shares in the company, valued at approximately $1,696,604. The trade was a 31.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 26,913 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $1,635,233.88. Following the transaction, the chief operating officer now owns 44,637 shares of the company’s stock, valued at $2,712,144.12. The trade was a 37.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,645 shares of company stock worth $7,895,910. 24.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on SKX shares. StockNews.com started coverage on Skechers U.S.A. in a report on Wednesday, May 14th. They set a “sell” rating on the stock. UBS Group reiterated a “neutral” rating and issued a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Raymond James cut Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a report on Monday, May 5th. Bank of America dropped their price objective 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. Finally, Wells Fargo & Company boosted their price objective 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Hold” and a consensus target price of $70.00.

Skechers U.S.A. Company 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.