Pathway Financial Advisors LLC Purchases New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

Pathway Financial Advisors LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,628 shares of the textile maker’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in shares of Skechers U.S.A. by 10.8% during the first quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock worth $689,000 after purchasing an additional 1,654 shares in the last quarter. US Bancorp DE lifted its holdings in Skechers U.S.A. by 71.1% during the 1st quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after buying an additional 1,004 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Skechers U.S.A. by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock valued at $260,000 after buying an additional 663 shares during the last quarter. Bank of Montreal Can boosted its position in Skechers U.S.A. by 8.6% in the 1st quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock valued at $519,000 after buying an additional 990 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Skechers U.S.A. by 34.4% in the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock valued at $3,580,000 after buying an additional 22,464 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SKX shares. TD Cowen raised their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Raymond James lowered their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Bank of America began coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Evercore ISI lowered their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Monness Crespi & Hardt increased their price target 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.17.

Insider Buying and Selling

In related news, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction on Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $856,945.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Mark A. Nason sold 6,067 shares of Skechers U.S.A. stock in a transaction that occurred 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 sale, the executive vice president now owns 14,023 shares of the company’s stock, valued at approximately $856,945.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock worth $15,021,192 over the last ninety days. Company insiders own 24.79% of the company’s stock.

Skechers U.S.A. Trading Down 0.8 %

NYSE:SKX traded down $0.45 on Friday, reaching $56.41. The company’s stock had a trading volume of 4,955,635 shares, compared to its average volume of 1,262,601. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $65.17. The business’s 50-day moving average price is $59.67 and its two-hundred day moving average price is $57.63. The firm has a market cap of $8.65 billion, a PE ratio of 16.17, a PEG ratio of 1.03 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38.

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

Skechers U.S.A. 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.