Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. grew its position in Skechers U.S.A., Inc. (NYSE:SKX) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,925 shares of the textile maker’s stock after buying an additional 1,025 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Skechers U.S.A. were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC grew its position in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. in the fourth quarter valued at $32,000. Parallel Advisors LLC raised its holdings in shares of Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after buying an additional 399 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Skechers U.S.A.

In related news, President Michael Greenberg sold 33,656 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the sale, the president now owns 137,530 shares of the company’s stock, valued at $8,356,322.80. This trade represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the sale, the chief executive officer now owns 51,342 shares of the company’s stock, valued at approximately $3,119,539.92. This represents a 44.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,599 shares of company stock valued at $7,099,910 in the last ninety days. Corporate insiders own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lowered their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Barclays reiterated an “equal weight” rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wells Fargo & Company raised their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Evercore ISI lowered their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, UBS Group reissued a “neutral” rating and set a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.69.

Skechers U.S.A. Trading Up 0.0%

Shares of SKX stock opened at $62.05 on Friday. The stock has a market cap of $9.28 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The business has a fifty day simple moving average of $54.88 and a 200-day simple moving average of $62.11.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.33 EPS. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.