Jefferies Financial Group Inc. Takes $1.11 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Jefferies Financial Group Inc. purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,506 shares of the textile maker's stock, valued at approximately $1,110,000.

Several other institutional investors also recently added to or reduced their stakes in SKX. Raymond James Financial Inc. bought a new position in Skechers U.S.A. during the 4th quarter worth about $12,852,000. Hudson Bay Capital Management LP bought a new position in Skechers U.S.A. during the 4th quarter worth about $5,804,000. Schroder Investment Management Group grew its holdings in Skechers U.S.A. by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after acquiring an additional 18,024 shares in the last quarter. Frontier Capital Management Co. LLC bought a new position in Skechers U.S.A. during the 4th quarter worth about $17,589,000. Finally, Two Sigma Investments LP grew its holdings in Skechers U.S.A. by 772.7% during the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after acquiring an additional 1,041,677 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SKX shares. Morgan Stanley restated an "equal weight" rating and issued a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Monness Crespi & Hardt cut shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $67.69.

Skechers U.S.A. Stock Performance

SKX stock traded up $0.02 during midday trading on Friday, reaching $62.05. The stock had a trading volume of 6,572,125 shares, compared to its average volume of 3,241,746. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. 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 stock has a market cap of $9.28 billion, a PE ratio of 14.95, a P/E/G ratio of 1.11 and a beta of 1.06. The firm has a fifty day simple moving average of $54.88 and a two-hundred day simple moving average of $62.10.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $1.33 EPS. Skechers U.S.A.'s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity

In other news, COO David Weinberg sold 26,913 shares of Skechers U.S.A. 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 $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares of the company's stock, valued at $2,712,144.12. The trade was a 37.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. The trade was a 5.78% decrease in their position. 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 three months. 24.78% of the stock is currently owned by corporate 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.