Fairtree Asset Management Pty Ltd Acquires New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,015 shares of the textile maker's stock, valued at approximately $741,000.

A number of other large investors have also recently added to or reduced their stakes in SKX. Janney Montgomery Scott LLC increased its holdings in shares of Skechers U.S.A. by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,498 shares of the textile maker's stock worth $1,580,000 after acquiring an additional 1,103 shares during the period. PFG Investments LLC acquired a new position in Skechers U.S.A. during the 4th quarter valued at about $265,000. Blue Trust Inc. increased its stake in Skechers U.S.A. by 30.4% during the 4th quarter. Blue Trust Inc. now owns 1,305 shares of the textile maker's stock valued at $87,000 after buying an additional 304 shares during the period. KBC Group NV increased its stake in Skechers U.S.A. by 11.3% during the 4th quarter. KBC Group NV now owns 195,503 shares of the textile maker's stock valued at $13,146,000 after buying an additional 19,865 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new position in Skechers U.S.A. during the 4th quarter valued at about $221,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus lowered 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. Wall Street Zen began coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating on the stock. TD Cowen cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective on the stock. in a research note on Wednesday. Finally, Raymond James cut shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Stock Up 0.0%

Shares of SKX stock traded up $0.02 during trading on Friday, hitting $62.05. 6,572,125 shares of the company were exchanged, compared to its average volume of 3,241,746. 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 capitalization of $9.28 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.11 and a beta of 1.06. The business's 50-day simple moving average is $54.79 and its 200 day simple moving average is $62.09. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the transaction, the chief executive officer now directly owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,599 shares of company stock worth $7,099,910. 24.78% of the stock is owned by company insiders.

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.