Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 61.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,026 shares of the textile maker’s stock after purchasing an additional 3,423 shares during the period. Picton Mahoney Asset Management’s holdings in Skechers U.S.A. were worth $607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its stake in Skechers U.S.A. by 54.5% during the third quarter. Los Angeles Capital Management LLC now owns 14,120 shares of the textile maker’s stock worth $945,000 after buying an additional 4,981 shares during the period. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares during the period. Victory Capital Management Inc. boosted its stake in Skechers U.S.A. by 22.3% during the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after buying an additional 25,289 shares during the period. ING Groep NV boosted its stake in Skechers U.S.A. by 174.4% during the third quarter. ING Groep NV now owns 91,100 shares of the textile maker’s stock worth $6,096,000 after buying an additional 57,900 shares during the period. Finally, Empowered Funds LLC purchased a new position in Skechers U.S.A. during the third quarter worth about $7,300,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SKX has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. 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 note on Friday, February 7th. Evercore ISI raised their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays lowered their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Up 1.1 %

Shares of Skechers U.S.A. stock opened at $56.58 on Friday. Skechers U.S.A., Inc. has a 52-week low of $53.79 and a 52-week high of $78.85. The company has a 50 day moving average of $66.83 and a 200 day moving average of $65.91. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.45 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.11 and a beta of 1.21.

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 13.73% 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 fiscal year.

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.