Venturi Wealth Management LLC Grows Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Venturi Wealth Management LLC boosted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 296.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,422 shares of the textile maker’s stock after purchasing an additional 2,558 shares during the quarter. Venturi Wealth Management LLC’s holdings in Skechers U.S.A. were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. during the 4th quarter worth $65,000. Blue Trust Inc. increased its holdings in Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the period. Brooklyn Investment Group purchased a new position in Skechers U.S.A. during the 3rd quarter worth $67,000. Finally, Spire Wealth Management increased its holdings in Skechers U.S.A. by 11.6% during the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after purchasing an additional 155 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction 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 legal filing with the SEC, which can be accessed through this link. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,139 shares of company stock valued at $7,600,899. 24.75% of the stock is owned by company insiders.

Skechers U.S.A. Stock Down 4.0 %

Skechers U.S.A. stock opened at $63.01 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.12 and a beta of 1.19. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The business has a fifty day moving average price of $69.61 and a 200-day moving average price of $66.53.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler started coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.