New Century Financial Group LLC Invests $1.23 Million in Skechers U.S.A., Inc. (NYSE:SKX)

New Century Financial Group LLC bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,829 shares of the textile maker’s stock, valued at approximately $1,232,000.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after buying an additional 11,026 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after buying an additional 17,429 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after buying an additional 287,939 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Skechers U.S.A. by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after acquiring an additional 49,734 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 3.1 %

Shares of NYSE:SKX opened at $75.71 on Friday. The firm has a fifty day moving average of $67.50 and a two-hundred day moving average of $65.76. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $76.06. The firm has a market capitalization of $11.43 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $0.93 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SKX shares. Morgan Stanley boosted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $79.00.

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.