3,943 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by PFG Investments LLC

PFG Investments LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,943 shares of the textile maker’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after buying an additional 2,594,507 shares during the period. Commerce Bank raised its stake in shares of Skechers U.S.A. by 949.5% during the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after acquiring an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Skechers U.S.A. by 378.6% during the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after purchasing an additional 394,618 shares during the period. Wellington Management Group LLP grew its stake 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 worth $68,630,000 after purchasing an additional 287,939 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in Skechers U.S.A. in the third quarter valued at $16,790,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SKX. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. TD Cowen upped their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Evercore ISI increased their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America dropped their price target on shares of 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. Finally, Barclays increased 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 report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average price target of $80.18.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $75.27 on Friday. The business has a 50-day simple moving average of $69.38 and a 200 day simple moving average of $66.14. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.94 and a beta of 1.19.

Insider Activity

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