Inceptionr LLC Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Inceptionr LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 10,483 shares of the textile maker’s stock, valued at approximately $705,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth $12,852,000. Arizona State Retirement System raised its holdings in shares of Skechers U.S.A. by 1.2% during the 4th quarter. Arizona State Retirement System now owns 38,589 shares of the textile maker’s stock worth $2,595,000 after acquiring an additional 466 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Skechers U.S.A. by 2.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 46,733 shares of the textile maker’s stock worth $3,142,000 after acquiring an additional 928 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth $2,378,000. Finally, Cornerstone Investment Partners LLC raised its holdings in shares of Skechers U.S.A. by 3.4% during the 4th quarter. Cornerstone Investment Partners LLC now owns 10,023 shares of the textile maker’s stock worth $674,000 after acquiring an additional 331 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SKX shares. Stifel Nicolaus reduced their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. UBS Group reduced their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays reduced their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the 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 completion of the transaction, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $59.06 on Friday. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a market cap of $8.92 billion, a PE ratio of 14.23, a P/E/G ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The business has a 50-day simple moving average of $68.01 and a 200-day simple moving average of $66.37.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data 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%. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS 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.