Integrated Advisors Network LLC Has $1 Million Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Integrated Advisors Network LLC raised its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 335.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,900 shares of the textile maker's stock after buying an additional 11,478 shares during the quarter. Integrated Advisors Network LLC's holdings in Skechers U.S.A. were worth $1,002,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SKX. Vanguard Group Inc. grew its position in Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after acquiring an additional 82,143 shares in the last quarter. Anomaly Capital Management LP boosted its holdings in Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares in the last quarter. Geode Capital Management LLC increased its position in Skechers U.S.A. by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock worth $154,361,000 after buying an additional 78,071 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Skechers U.S.A. by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after buying an additional 357,681 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating 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. Evercore ISI reduced their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Morgan Stanley reiterated an "equal weight" rating and issued a $63.00 target price (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Finally, Barclays reissued an "equal weight" rating and set a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. One equities 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $67.69.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.02 during mid-day trading on Friday, hitting $62.05. The company had a trading volume of 6,572,121 shares, compared to its average volume of 4,965,803. 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 cap of $9.28 billion, a P/E ratio of 14.95, a PEG 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. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

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, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the 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 transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This represents a 42.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David Weinberg sold 26,913 shares of Skechers U.S.A. stock in a transaction dated 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 transaction, the chief operating officer now directly owns 44,637 shares of the company's stock, valued at $2,712,144.12. This represents a 37.61% 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 over the last ninety days. 24.78% of the stock is owned by company insiders.

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.