10,509 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, Holdings Channel reports. The fund acquired 10,509 shares of the textile maker’s stock, valued at approximately $707,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Te Ahumairangi Investment Management Ltd lifted its position in shares of Skechers U.S.A. by 31.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock valued at $5,985,000 after acquiring an additional 21,275 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Skechers U.S.A. by 88.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after purchasing an additional 13,836 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Skechers U.S.A. in the third quarter valued at $1,182,000. Tidal Investments LLC boosted its position in shares of Skechers U.S.A. by 24.3% in the third quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock worth $3,468,000 after buying an additional 10,122 shares during the period. Finally, Nordea Investment Management AB purchased a new position in shares of Skechers U.S.A. during the fourth quarter valued at $2,752,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now directly owns 15,000 shares of the company’s stock, valued at approximately $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. The trade was a 5.78 % 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 worth $13,452,902 in the last quarter. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $47.53 on Friday. The business’s 50-day simple moving average is $56.75 and its 200-day simple moving average is $63.46. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly 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 net margin of 7.13% and a return on equity of 13.73%. As a group, equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen increased their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Bank of America reduced their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Raymond James lowered their price target on shares of 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. Finally, UBS Group cut their price objective on Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.67.

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.