Louisiana State Employees Retirement System Makes New $2.34 Million Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Louisiana State Employees Retirement System purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,500 shares of the textile maker’s stock, valued at approximately $2,338,000.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in Skechers U.S.A. during the first quarter worth approximately $25,000. Fred Alger Management LLC acquired a new position in Skechers U.S.A. during the first quarter worth approximately $26,000. Huntington National Bank increased its position in Skechers U.S.A. by 861.7% during the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after buying an additional 517 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Skechers U.S.A. in the 3rd quarter valued at approximately $31,000. Finally, Lazard Asset Management LLC grew its stake in shares of Skechers U.S.A. by 117.7% in the 3rd quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity at Skechers U.S.A.

In related news, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the transaction, the executive vice president now directly owns 14,023 shares in the company, valued at $856,945.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark A. Nason sold 6,067 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the sale, the executive vice president now directly owns 14,023 shares of the company’s stock, valued at approximately $856,945.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,875 shares of company stock worth $15,021,192. 24.79% of the stock is currently owned by insiders.

Skechers U.S.A. Stock Up 1.6 %

SKX opened at $57.40 on Wednesday. The business’s fifty day moving average is $59.75 and its two-hundred day moving average is $57.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.02 and a beta of 1.32. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $65.17.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wedbush lowered their target price on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, February 2nd. Evercore ISI assumed coverage on Skechers U.S.A. in a research note on Thursday, February 15th. They issued an “outperform” rating and a $73.00 target price on the stock. Barclays assumed coverage on Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price on the stock. Bank of America assumed coverage on Skechers U.S.A. in a research note on Friday, March 8th. They issued a “neutral” rating and a $67.00 target price on the stock. Finally, Monness Crespi & Hardt lifted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.58.

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.