Symphony Financial Ltd. Co. Invests $289,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Symphony Financial Ltd. Co. acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,600 shares of the textile maker’s stock, valued at approximately $289,000.

Several other large investors have also recently bought and sold shares of SKX. BlackRock Inc. raised its position in Skechers U.S.A. by 5.2% in the 2nd quarter. BlackRock Inc. now owns 12,059,321 shares of the textile maker’s stock valued at $635,044,000 after purchasing an additional 592,347 shares during the last quarter. State Street Corp raised its position in shares of Skechers U.S.A. by 3.4% in the 3rd quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock valued at $151,577,000 after acquiring an additional 157,862 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Skechers U.S.A. by 2.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock worth $233,520,000 after acquiring an additional 112,517 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Skechers U.S.A. by 6.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock worth $99,065,000 after purchasing an additional 165,147 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Skechers U.S.A. by 4.8% in the first quarter. Capital Research Global Investors now owns 2,200,000 shares of the textile maker’s stock valued at $89,672,000 after acquiring an additional 100,000 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on SKX. Raymond James reduced their target price on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Monness Crespi & Hardt boosted their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Evercore ISI assumed coverage on shares of Skechers U.S.A. in a report on Thursday, February 15th. They set an “outperform” rating and a $73.00 target price on the stock. Wedbush reduced their price objective on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, February 2nd. Finally, Stifel Nicolaus lowered 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 research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus target price of $66.18.

Skechers U.S.A. Trading Up 0.7 %

NYSE:SKX traded up $0.40 during mid-day trading on Friday, hitting $61.26. 759,309 shares of the company’s stock were exchanged, compared to its average volume of 1,436,927. Skechers U.S.A., Inc. has a fifty-two week low of $45.58 and a fifty-two week high of $65.17. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $9.39 billion, a P/E ratio of 17.55, a PEG ratio of 1.10 and a beta of 1.32. The company has a 50 day simple moving average of $60.68 and a 200-day simple moving average of $56.51.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts expect that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current year.

Insider Buying and Selling at Skechers U.S.A.

In other news, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the sale, the executive vice president now owns 14,023 shares in the company, valued at $856,945.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO David Weinberg sold 20,226 shares of Skechers U.S.A. stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the transaction, the chief operating officer now owns 99,655 shares in the company, valued at approximately $6,089,917.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the transaction, the executive vice president now owns 14,023 shares of the company’s stock, valued at $856,945.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,480 shares of company stock worth $15,805,349. Insiders own 24.79% 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.