151,000 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Acquired by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, Holdings Channel.com reports. The fund acquired 151,000 shares of the textile maker’s stock, valued at approximately $10,153,000. Skechers U.S.A. comprises about 9.4% of Ranmore Fund Management Ltd’s holdings, making the stock its 3rd biggest holding.

Several other large investors have also modified their holdings of SKX. TD Private Client Wealth LLC raised its position in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the period. UMB Bank n.a. raised 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 buying an additional 239 shares during the period. IFP Advisors Inc lifted its stake in Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after buying an additional 317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth about $65,000. Finally, Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Trading Up 2.7 %

Shares of NYSE SKX opened at $50.29 on Monday. The business has a 50 day simple moving average of $62.35 and a 200 day simple moving average of $64.75. Skechers U.S.A., Inc. has a 52 week low of $45.69 and a 52 week high of $78.85. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 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%. On average, research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen upped 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. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Piper Sandler started coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, Barclays decreased their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.42.

Insiders Place Their Bets

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the sale, the executive vice president now owns 25,675 shares of the company’s stock, valued at $1,696,604. This represents a 31.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares of the company’s stock, valued at $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 over the last three months. 24.75% of the stock is currently owned by insiders.

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.