Louisiana State Employees Retirement System Sells 200 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Louisiana State Employees Retirement System decreased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,500 shares of the textile maker’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Skechers U.S.A. were worth $2,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SKX. UMB Bank n.a. boosted its position in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Skechers U.S.A. in the fourth quarter valued at $65,000. Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the third quarter worth $67,000. Finally, Blue Trust Inc. raised its position in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after acquiring an additional 887 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SKX shares. 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 research note on Wednesday, January 8th. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. UBS Group cut their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Bank of America decreased their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $63.99 on Friday. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85. The firm has a 50-day moving average price of $70.16 and a two-hundred day moving average price of $66.46. The company has a market capitalization of $9.66 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.95 and a beta of 1.19. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. Analysts anticipate that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,093 shares of company stock valued at $6,804,900 over the last quarter. 24.75% of the stock is owned by corporate 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.