Paragon Private Wealth Management LLC Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Paragon Private Wealth Management LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,115 shares of the textile maker’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Skechers U.S.A. by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock valued at $148,395,000 after purchasing an additional 11,026 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after buying an additional 287,939 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $54.88 on Tuesday. The stock has a market capitalization of $8.29 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 1-year low of $53.79 and a 1-year high of $78.85. 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 business has a 50-day moving average price of $67.75 and a two-hundred day moving average price of $66.27.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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 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, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % 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 36,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares of the company’s stock, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on SKX. UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Stifel Nicolaus cut their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Evercore ISI lifted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Three 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 $81.25.

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.