2,750 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Acquired by GKV Capital Management Co. Inc.

GKV Capital Management Co. Inc. bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,750 shares of the textile maker’s stock, valued at approximately $185,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SKX. NewEdge Advisors LLC increased its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Montag & Caldwell LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $382,000. Jump Financial LLC bought a new stake in Skechers U.S.A. during the 4th quarter worth approximately $1,080,000. Portolan Capital Management LLC increased its stake in Skechers U.S.A. by 29.1% in the 4th quarter. Portolan Capital Management LLC now owns 198,827 shares of the textile maker’s stock worth $13,369,000 after buying an additional 44,768 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in Skechers U.S.A. during the fourth quarter valued at about $693,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the sale, the executive vice president now owns 25,675 shares of the company’s stock, valued at approximately $1,696,604. This represents a 31.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is currently owned by insiders.

Skechers U.S.A. Stock Down 2.4 %

Shares of NYSE:SKX opened at $46.63 on Thursday. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The company has a 50-day moving average price of $57.10 and a 200 day moving average price of $63.59. 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. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on SKX. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Raymond James cut their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Barclays lowered their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Stifel Nicolaus cut their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Bank of America decreased their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

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.