Securian Asset Management Inc. Has $669,000 Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Securian Asset Management Inc. lowered its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 9,948 shares of the textile maker’s stock after selling 358 shares during the period. Securian Asset Management Inc.’s holdings in Skechers U.S.A. were worth $669,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in 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 during the period. IFP Advisors Inc grew its stake in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $65,000. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the third quarter valued at approximately $67,000. Finally, Blue Trust Inc. grew its stake in Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research reports. Barclays reduced their price objective on 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. Stifel Nicolaus reduced their price objective on 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. Raymond James cut their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $56.58 on Monday. The business’s fifty day simple moving average is $66.83 and its 200 day simple moving average is $65.89. The firm has a market capitalization of $8.45 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 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 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, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the business’s 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 sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is owned by company 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.