Yousif Capital Management LLC Grows Position in Skechers U.S.A., Inc. (NYSE:SKX)

Yousif Capital Management LLC raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,770 shares of the textile maker’s stock after buying an additional 434 shares during the quarter. Yousif Capital Management LLC’s holdings in Skechers U.S.A. were worth $4,038,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $36,000. Huntington National Bank grew its holdings in shares of Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after buying an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Skechers U.S.A. during the third quarter worth $31,000. Planned Solutions Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $70,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $77,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

SKX has been the subject of a number of analyst reports. Wedbush upped their price objective on shares of Skechers U.S.A. from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Friday. Bank of America initiated coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Barclays initiated coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, Evercore ISI dropped their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.83.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 67,390 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark A. Nason sold 6,432 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the sale, the executive vice president now directly owns 34,023 shares in the company, valued at approximately $2,001,573.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,875 shares of company stock valued at $15,021,192. 24.75% of the stock is currently owned by corporate insiders.

Skechers U.S.A. Stock Up 11.2 %

Shares of SKX opened at $65.39 on Friday. The stock has a market capitalization of $10.02 billion, a PE ratio of 17.21, a P/E/G ratio of 1.07 and a beta of 1.32. Skechers U.S.A., Inc. has a 1 year low of $45.58 and a 1 year high of $69.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The company’s 50-day simple moving average is $59.73 and its 200-day simple moving average is $58.04.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.76%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. Analysts forecast that Skechers U.S.A., Inc. will post 3.81 earnings per share 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.