ExodusPoint Capital Management LP Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

ExodusPoint Capital Management LP acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 97,574 shares of the textile maker’s stock, valued at approximately $6,561,000.

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

Analysts Set New Price Targets

SKX has been the subject of several recent analyst reports. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Raymond James cut their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Evercore ISI boosted their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group dropped their price objective on shares of 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. Finally, Bank of America decreased their target price on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $80.42.

Insider Buying and Selling

In other news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Greenberg sold 33,656 shares of the business’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 $2,044,938.56. Following the transaction, the president now owns 137,530 shares of the company’s stock, valued at approximately $8,356,322.80. The trade was a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 in the last ninety days. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $50.29 on Friday. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. 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 has a 50 day moving average price of $62.35 and a 200-day moving average price of $64.77. Skechers U.S.A., Inc. has a one year low of $45.69 and a one year high of $78.85.

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

Skechers U.S.A. Company 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.