Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. lifted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 31.2% in the fourth quarter, Holdings Channel reports. The firm owned 180,652 shares of the textile maker’s stock after purchasing an additional 43,000 shares during the period. Heartland Advisors Inc.’s holdings in Skechers U.S.A. were worth $12,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sanctuary Advisors LLC increased its position in shares of Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. during the fourth quarter worth about $12,852,000. National Bank of Canada FI grew its stake in shares of Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after buying an additional 67,812 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Skechers U.S.A. by 1.3% during 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 buying an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SKX shares. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. TD Cowen boosted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Raymond James decreased their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group cut their price target on 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 Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.42.

Skechers U.S.A. Stock Up 0.8 %

Shares of Skechers U.S.A. stock opened at $57.79 on Friday. 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 market capitalization of $8.63 billion, a P/E ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.21. The business’s fifty day moving average price is $64.54 and its two-hundred day moving average price is $65.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

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 analysts’ consensus estimates 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%. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity

In related news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,738 shares of company stock worth $14,700,809. 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.