Peak Retirement Planning Inc. Purchases New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Peak Retirement Planning Inc. acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,168 shares of the textile maker's stock, valued at approximately $953,000.

Other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC acquired a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $265,000. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after purchasing an additional 239 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Skechers U.S.A. by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,498 shares of the textile maker's stock worth $1,580,000 after purchasing an additional 1,103 shares during the period. New Century Financial Group LLC acquired a new stake in shares of Skechers U.S.A. during the fourth quarter worth $1,232,000. Finally, PFG Investments LLC acquired a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $265,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert Greenberg sold 40,924 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the transaction, the chief executive officer now owns 51,342 shares of the company's stock, valued at approximately $3,119,539.92. This represents a 44.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction on 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 transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,599 shares of company stock valued at $7,099,910 in the last quarter. Company insiders own 24.78% of the company's stock.

Skechers U.S.A. Trading Up 0.2%

Shares of SKX stock traded up $0.12 on Thursday, hitting $62.10. The stock had a trading volume of 6,271,256 shares, compared to its average volume of 3,207,067. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.29 billion, a P/E ratio of 14.97, a PEG ratio of 1.11 and a beta of 1.06. The company has a fifty day moving average price of $54.71 and a two-hundred day moving average price of $62.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The company 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%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SKX. Raymond James downgraded Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Evercore ISI cut their target price on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $67.69.

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.