Advisor Resource Council Buys 12,924 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Advisor Resource Council increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 214.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,940 shares of the textile maker’s stock after acquiring an additional 12,924 shares during the quarter. Advisor Resource Council’s holdings in Skechers U.S.A. were worth $1,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Skechers U.S.A. by 5.2% during the second quarter. BlackRock Inc. now owns 12,059,321 shares of the textile maker’s stock worth $635,044,000 after acquiring an additional 592,347 shares during the last quarter. State Street Corp boosted its position in shares of Skechers U.S.A. by 3.4% during the third quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock worth $151,577,000 after acquiring an additional 157,862 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Skechers U.S.A. by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock valued at $233,520,000 after purchasing an additional 112,517 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $99,065,000 after purchasing an additional 165,147 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Skechers U.S.A. by 4.8% during 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 purchasing an additional 100,000 shares during the last quarter. Institutional investors own 80.54% of the company’s stock.

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

In other Skechers U.S.A. news, CEO Robert Greenberg sold 12,605 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $62.21, for a total transaction of $784,157.05. Following the transaction, the chief executive officer now owns 196,050 shares of the company’s stock, valued at approximately $12,196,270.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mark A. Nason sold 6,067 shares of the firm’s 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 sale, the executive vice president now directly owns 14,023 shares in the company, valued at approximately $856,945.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 12,605 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $62.21, for a total transaction of $784,157.05. Following the completion of the sale, the chief executive officer now owns 196,050 shares in the company, valued at $12,196,270.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,480 shares of company stock valued at $15,805,349. Company insiders own 24.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SKX. 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. Bank of America began coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective for the company. TD Cowen increased their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Raymond James reduced their target price on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Finally, Wedbush reduced their target price 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. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.18.

Skechers U.S.A. Trading Down 1.2 %

SKX stock traded down $0.71 during trading on Friday, hitting $60.83. The company had a trading volume of 1,184,276 shares, compared to its average volume of 1,652,828. The firm has a market capitalization of $9.32 billion, a P/E ratio of 17.43, a PEG ratio of 1.10 and a beta of 1.32. Skechers U.S.A., Inc. has a 52-week low of $43.67 and a 52-week high of $65.17. The company has a 50 day simple moving average of $60.90 and a 200-day simple moving average of $56.20. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

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