3,028 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Acquired by Longboard Asset Management LP

Longboard Asset Management LP acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,028 shares of the textile maker’s stock, valued at approximately $204,000.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares in the last quarter. Venturi Wealth Management LLC raised its position in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the period. Blue Trust Inc. raised its position in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the period. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. in the third quarter valued at $67,000. Finally, Spire Wealth Management raised its position in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the topic of a number of research analyst reports. Evercore ISI lifted their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley lifted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America dropped their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.18.

Insider Buying and Selling

In related 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 transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 8,219 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 $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $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. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. Trading Up 1.9 %

SKX opened at $73.98 on Wednesday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 0.92 and a beta of 1.19. 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 business has a fifty day moving average price of $69.83 and a 200 day moving average price of $66.26.

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.