Css LLC Il Invests $755,000 in Skechers U.S.A., Inc. (NYSE:SKX)

CSS LLC IL bought a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,230 shares of the textile maker's stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. HB Wealth Management LLC acquired a new stake in shares of Skechers U.S.A. during the fourth quarter worth approximately $265,000. Aaron Wealth Advisors LLC purchased a new stake in Skechers U.S.A. in the 4th quarter worth approximately $222,000. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after buying an additional 239 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Skechers U.S.A. by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,498 shares of the textile maker's stock valued at $1,580,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at $256,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 26,913 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares in the company, valued at $2,712,144.12. This represents a 37.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares in the company, valued at $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 worth $7,099,910 over the last three months. 24.78% of the stock is currently owned by insiders.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.17 during trading hours on Tuesday, hitting $62.04. 2,256,938 shares of the stock were exchanged, compared to its average volume of 3,155,894. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company's 50 day moving average is $54.48 and its 200 day moving average is $62.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The firm has a market capitalization of $9.28 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.11 and a beta of 1.06.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The company 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 business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. On average, research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

SKX has been the subject of several recent research reports. Wall Street Zen assumed coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating for the company. Stifel Nicolaus lowered their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $70.00.

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.