Ellsworth Advisors LLC Invests $4.13 Million in Skechers U.S.A., Inc. (NYSE:SKX)

Ellsworth Advisors LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,380 shares of the textile maker’s stock, valued at approximately $4,127,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares during the last quarter. Blue Trust Inc. grew its position in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. during the 3rd quarter worth $67,000. Finally, Quarry LP increased its position in shares of Skechers U.S.A. by 44.6% during the second quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock worth $82,000 after purchasing an additional 366 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $70.09 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $66.81 and its two-hundred day moving average is $65.63. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.86 and a beta of 1.19. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09.

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 for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts expect that Skechers U.S.A., Inc. will post 4.24 EPS for the current year.

Analyst Ratings Changes

SKX has been the topic of a number of research reports. Needham & Company LLC started coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating on the stock. Morgan Stanley raised their target price on shares of 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. 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. Finally, TD Cowen lifted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Insider Activity at Skechers U.S.A.

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

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.