Envestnet Asset Management Inc. Buys 5,612 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Envestnet Asset Management Inc. boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,763 shares of the textile maker’s stock after purchasing an additional 5,612 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Skechers U.S.A. worth $12,222,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC increased its position in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the period. UMB Bank n.a. lifted its holdings in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after buying an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Skechers U.S.A. during the 4th quarter worth about $65,000. Finally, Blue Trust Inc. raised its position in Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after buying an additional 207 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Up 1.7 %

Shares of SKX stock opened at $47.53 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The stock’s 50-day moving average price is $56.75 and its 200-day moving average price is $63.46.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly 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 return on equity of 13.73% and a net margin of 7.13%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. UBS Group reduced their price objective on shares of Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James reduced their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Stifel Nicolaus reduced their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

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

In related news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark A. Nason sold 12,046 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at approximately $1,696,604. This trade represents a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last quarter. Insiders own 24.75% of the company’s stock.

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.