Clark Capital Management Group Inc. Has $5.34 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Clark Capital Management Group Inc. increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 40.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,424 shares of the textile maker's stock after buying an additional 23,015 shares during the quarter. Clark Capital Management Group Inc. owned about 0.05% of Skechers U.S.A. worth $5,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB bought a new position in Skechers U.S.A. during the 4th quarter valued at $2,752,000. Fiduciary Financial Group LLC purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at $298,000. Assenagon Asset Management S.A. lifted its holdings in shares of Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock valued at $8,069,000 after purchasing an additional 15,874 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Skechers U.S.A. by 13.0% in the fourth quarter. Park Avenue Securities LLC now owns 16,830 shares of the textile maker's stock valued at $1,132,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Morton Capital Management LLC CA purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $2,305,000. 79.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on SKX. Morgan Stanley reiterated an "equal weight" rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Barclays reiterated an "equal weight" rating and set a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Bank of America cut their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and a consensus target price of $70.00.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. The trade was a 31.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 in the last three months. Insiders own 24.78% of the company's stock.

Skechers U.S.A. Price Performance

Shares of SKX stock traded up $0.98 during trading hours on Monday, hitting $62.47. The company had a trading volume of 12,872,425 shares, compared to its average volume of 2,957,300. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.06. The firm's fifty day moving average is $53.40 and its 200 day moving average is $62.07. 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 - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Skechers U.S.A.'s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.