Empirical Finance LLC Purchases New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Empirical Finance LLC purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,249 shares of the textile maker’s stock, valued at approximately $555,000.

Several other institutional investors have also recently made changes to their positions in SKX. Spire Wealth Management boosted its holdings in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after buying an additional 155 shares during the last quarter. Calamos Wealth Management LLC raised its position in Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after acquiring an additional 157 shares in the last quarter. Lindenwold Advisors INC lifted its stake in Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares during the last quarter. Edgestream Partners L.P. grew its position in shares of Skechers U.S.A. by 2.8% in the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after acquiring an additional 236 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of 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 last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

SKX has been the subject of several recent analyst reports. Piper Sandler began coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday. TD Cowen lifted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Activity at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of the company’s 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 sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 8,219 shares of the 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 $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $65.09 on Tuesday. 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 $78.85. The company’s 50 day moving average price is $70.55 and its two-hundred day moving average price is $66.50. The firm has a market cap of $9.83 billion, a PE ratio of 15.68, a PEG ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current year.

About Skechers U.S.A.

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.