Alberta Investment Management Corp Purchases 1,341 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Alberta Investment Management Corp grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,794 shares of the textile maker’s stock after acquiring an additional 1,341 shares during the period. Alberta Investment Management Corp’s holdings in Skechers U.S.A. were worth $1,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sanctuary Advisors LLC grew its stake in Skechers U.S.A. by 88.1% during the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after purchasing an additional 13,836 shares during the period. Victory Capital Management Inc. grew its position in shares of Skechers U.S.A. by 22.3% during the 3rd 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. National Bank of Canada FI grew its position in shares of Skechers U.S.A. by 2,340.0% during the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after buying an additional 67,812 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after acquiring an additional 15,874 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $63.01 on Friday. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year 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. The stock has a market cap of $9.51 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. The stock’s fifty day simple moving average is $69.61 and its two-hundred day simple moving average is $66.53.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Ratings Changes

SKX has been the subject of a number of research reports. Evercore ISI raised their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Bank of America decreased their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Activity

In related news, COO David Weinberg sold 36,000 shares of the business’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 $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. The trade was a 39.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares of the company’s stock, 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. Insiders sold a total of 119,139 shares of company stock valued at $7,600,899 over the last three months. Corporate insiders own 24.75% of the company’s stock.

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.