New Century Financial Group LLC Takes $1.23 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

New Century Financial Group LLC bought a new position in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,829 shares of the textile maker’s stock, valued at approximately $1,232,000.

A number of other large investors have also recently added to or reduced their stakes in SKX. Lindenwold Advisors INC raised its position in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 195 shares during the period. Edgestream Partners L.P. grew its stake in Skechers U.S.A. by 2.8% in the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after buying an additional 236 shares during the last quarter. UMB Bank n.a. raised its holdings in Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the period. Covestor Ltd lifted its position in Skechers U.S.A. by 18.8% during the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock worth $112,000 after acquiring an additional 265 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Skechers U.S.A. by 2.6% during the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock valued at $747,000 after acquiring an additional 284 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $75.71 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a 50-day moving average of $67.50 and a 200-day moving average of $65.76. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $76.06. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.90 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen lifted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Bank of America dropped their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Morgan Stanley increased their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays raised their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.