Paragon Private Wealth Management LLC Invests $209,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Paragon Private Wealth Management LLC purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,115 shares of the textile maker’s stock, valued at approximately $209,000.

A number of other hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. raised its position in Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares in the last quarter. Bank of New York Mellon Corp raised its position in Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after acquiring an additional 953,528 shares in the last quarter. Commerce Bank raised its position in Skechers U.S.A. by 949.5% during the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after acquiring an additional 423,204 shares in the last quarter. Wellington Management Group LLP raised its position in Skechers U.S.A. by 39.0% during 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 acquiring an additional 287,939 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in Skechers U.S.A. by 68.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock valued at $41,940,000 after acquiring an additional 253,045 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock worth $14,700,809 over the last 90 days. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Trading Down 7.0 %

Shares of Skechers U.S.A. stock opened at $54.88 on Tuesday. The company’s fifty day simple moving average is $67.75 and its 200-day simple moving average is $66.27. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 1 year low of $53.79 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SKX shares. Piper Sandler started coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Stifel Nicolaus dropped their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. TD Cowen lifted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.