Jefferies Financial Group Inc. Buys Shares of 16,506 Skechers U.S.A., Inc. (NYSE:SKX)

Jefferies Financial Group Inc. purchased a new position in shares of 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 fund purchased 16,506 shares of the textile maker's stock, valued at approximately $1,110,000.

Several other hedge funds also recently added to or reduced their stakes in SKX. Fiduciary Financial Group LLC acquired a new position in Skechers U.S.A. during the 4th quarter worth $298,000. Assenagon Asset Management S.A. lifted its position in Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock valued at $8,069,000 after purchasing an additional 15,874 shares during the last quarter. Park Avenue Securities LLC lifted its position in Skechers U.S.A. by 13.0% in the 4th quarter. Park Avenue Securities LLC now owns 16,830 shares of the textile maker's stock valued at $1,132,000 after purchasing an additional 1,933 shares during the last quarter. Morton Capital Management LLC CA bought a new stake in Skechers U.S.A. in the 4th quarter valued at about $2,305,000. Finally, HB Wealth Management LLC bought a new stake in shares of Skechers U.S.A. during the 4th quarter worth about $265,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now owns 83,328 shares of the company's stock, valued at $5,063,009.28. This represents a 5.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,645 shares of company stock valued at $7,895,910. 24.78% of the stock is owned by insiders.

Skechers U.S.A. Stock Performance

NYSE:SKX traded up $0.01 during trading hours on Friday, hitting $62.10. 4,342,452 shares of the company traded hands, compared to its average volume of 3,038,350. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.11 and a beta of 1.06. 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 50-day moving average of $53.86 and a 200 day moving average of $62.10. 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 announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on SKX. Barclays restated an "equal weight" rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Raymond James downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. UBS Group reiterated a "neutral" rating and issued a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Wells Fargo & Company boosted their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. currently 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.