151,000 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Acquired by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 151,000 shares of the textile maker’s stock, valued at approximately $10,153,000. Skechers U.S.A. accounts for about 9.4% of Ranmore Fund Management Ltd’s holdings, making the stock its 3rd largest holding. Ranmore Fund Management Ltd owned approximately 0.10% of Skechers U.S.A. at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SKX. Spire Wealth Management raised its stake in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 155 shares during the period. Calamos Wealth Management LLC increased its holdings in Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after purchasing an additional 157 shares in the last quarter. Cerity Partners LLC increased its holdings in Skechers U.S.A. by 1.2% in the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock valued at $947,000 after purchasing an additional 172 shares in the last quarter. Independent Advisor Alliance raised its position in Skechers U.S.A. by 4.7% in the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock valued at $302,000 after purchasing an additional 200 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after purchasing an additional 207 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Evercore ISI increased their target price on 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. 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. Raymond James dropped their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, UBS Group dropped their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.42.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares in the company, valued at approximately $1,696,604. This trade represents a 31.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 in the last three months. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Stock Up 2.7 %

Shares of Skechers U.S.A. stock opened at $50.29 on Monday. Skechers U.S.A., Inc. has a fifty-two week low of $45.69 and a fifty-two week high of $78.85. 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 firm has a market cap of $7.51 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.11 and a beta of 1.08. The business has a 50-day moving average price of $62.35 and a 200 day moving average price of $64.75.

Skechers U.S.A. (NYSE:SKX) last posted 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%. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal 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.