Skechers U.S.A., Inc. (NYSE:SKX) Position Boosted by Independent Advisor Alliance

Independent Advisor Alliance grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,486 shares of the textile maker’s stock after purchasing an additional 200 shares during the period. Independent Advisor Alliance’s holdings in Skechers U.S.A. were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SKX. UMB Bank n.a. increased its stake 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 valued at $46,000 after buying an additional 239 shares during the period. IFP Advisors Inc grew its holdings in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth $65,000. Brooklyn Investment Group purchased a new stake in shares of Skechers U.S.A. during the third quarter worth $67,000. Finally, Blue Trust Inc. raised its holdings in shares of Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,738 shares of company stock worth $14,700,809. Insiders own 24.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Barclays dropped their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Piper Sandler began coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. UBS Group dropped their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Trading Down 0.6 %

Shares of NYSE:SKX opened at $57.10 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock’s 50-day moving average is $66.32 and its 200-day moving average is $65.74. The company has a market cap of $8.53 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 52-week low of $53.79 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.