60,000 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by Rheos Capital Works Inc.

Rheos Capital Works Inc. bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, Holdings Channel reports. The fund bought 60,000 shares of the textile maker’s stock, valued at approximately $4,034,000.

A number of other institutional investors have also recently bought and sold shares of the business. Creative Planning increased its holdings in shares of Skechers U.S.A. by 15.7% during the second quarter. Creative Planning now owns 9,504 shares of the textile maker’s stock worth $657,000 after buying an additional 1,292 shares in the last quarter. Truist Financial Corp increased its position in shares of Skechers U.S.A. by 40.8% during the second quarter. Truist Financial Corp now owns 24,172 shares of the textile maker’s stock worth $1,671,000 after buying an additional 7,004 shares during the period. Cetera Investment Advisers raised its position in shares of Skechers U.S.A. by 32.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker’s stock worth $1,729,000 after acquiring an additional 6,193 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Skechers U.S.A. in the second quarter valued at approximately $1,027,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Skechers U.S.A. by 1,655.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 59,000 shares of the textile maker’s stock valued at $4,078,000 after acquiring an additional 55,639 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $75.27 on Monday. The company’s fifty day moving average price is $69.65 and its 200-day moving average price is $66.20. 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 0.92 and a beta of 1.19. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SKX shares. Barclays increased their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Bank of America dropped their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.18.

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the firm’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 $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is owned by insiders.

About Skechers U.S.A.

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.