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Strs Ohio Makes New $1.02 Million Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Strs Ohio purchased a new position in Skechers U.S.A., Inc. (NYSE:SKXGet Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,036 shares of the textile maker’s stock, valued at approximately $1,016,000.

Other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Skechers U.S.A. by 2.0% in the second quarter. State of Alaska Department of Revenue now owns 19,366 shares of the textile maker’s stock valued at $689,000 after buying an additional 385 shares in the last quarter. Bfsg LLC boosted its stake in Skechers U.S.A. by 5.8% during the second quarter. Bfsg LLC now owns 7,063 shares of the textile maker’s stock worth $251,000 after buying an additional 385 shares during the last quarter. Thompson Investment Management Inc. boosted its stake in Skechers U.S.A. by 0.5% during the second quarter. Thompson Investment Management Inc. now owns 91,684 shares of the textile maker’s stock worth $3,262,000 after buying an additional 479 shares during the last quarter. Allworth Financial LP boosted its stake in Skechers U.S.A. by 162.5% during the third quarter. Allworth Financial LP now owns 790 shares of the textile maker’s stock worth $25,000 after buying an additional 489 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in Skechers U.S.A. by 7.8% during the second quarter. Summit Trail Advisors LLC now owns 7,583 shares of the textile maker’s stock worth $270,000 after buying an additional 548 shares during the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 0.8 %

NYSE:SKX opened at $46.56 on Friday. The stock has a 50-day simple moving average of $41.57 and a 200-day simple moving average of $38.33. The stock has a market cap of $7.22 billion, a P/E ratio of 10.44 and a beta of 1.29. Skechers U.S.A., Inc. has a 1 year low of $31.28 and a 1 year high of $49.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 2.27.

Skechers U.S.A. (NYSE:SKXGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.19). The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. Skechers U.S.A. had a return on equity of 10.03% and a net margin of 9.70%. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 2.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SKX. Raymond James boosted their price objective on Skechers U.S.A. from $40.00 to $48.00 in a research note on Thursday, December 1st. StockNews.com assumed coverage on Skechers U.S.A. in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Wednesday, December 28th. They issued a “neutral” rating and a $42.00 target price on the stock. Monness Crespi & Hardt lifted their target price on Skechers U.S.A. to $50.00 in a research report on Friday, December 2nd. Finally, Morgan Stanley reduced their target price on Skechers U.S.A. from $59.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.92.

Insiders Place Their Bets

In other Skechers U.S.A. news, President Michael Greenberg sold 10,503 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total transaction of $444,171.87. Following the completion of the sale, the president now directly owns 427,080 shares of the company’s stock, valued at approximately $18,061,213.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Michael Greenberg sold 10,503 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total value of $444,171.87. Following the completion of the transaction, the president now directly owns 427,080 shares of the company’s stock, valued at approximately $18,061,213.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katherine J. Blair sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $35.16, for a total value of $52,740.00. Following the completion of the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at $369,180. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,967 shares of company stock valued at $876,358. 24.44% of the stock is owned by company insiders.

About Skechers U.S.A.

(Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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