Phocas Financial Corp. Purchases 53,981 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Phocas Financial Corp. boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 81.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,590 shares of the textile maker's stock after purchasing an additional 53,981 shares during the quarter. Phocas Financial Corp. owned about 0.08% of Skechers U.S.A. worth $7,518,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in Skechers U.S.A. in the 1st quarter worth approximately $25,000. Fred Alger Management LLC bought a new position in shares of Skechers U.S.A. during the 1st quarter valued at approximately $26,000. Huntington National Bank increased its position in shares of Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker's stock valued at $28,000 after purchasing an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Skechers U.S.A. during the 3rd quarter valued at approximately $31,000. Finally, Lazard Asset Management LLC increased its position in shares of Skechers U.S.A. by 117.7% during the 3rd quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker's stock valued at $31,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

SKX has been the subject of a number of recent analyst reports. Barclays initiated coverage on Skechers U.S.A. in a report on Monday, April 1st. They set an "overweight" rating and a $71.00 price objective for the company. Monness Crespi & Hardt boosted their price objective on Skechers U.S.A. from $60.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, January 18th. Raymond James dropped their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, February 5th. TD Cowen upped their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Finally, Evercore ISI assumed coverage on Skechers U.S.A. in a report on Thursday, February 15th. They issued an "outperform" rating and a $73.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.58.

Insider Transactions at Skechers U.S.A.

In other news, EVP Mark A. Nason sold 6,432 shares of the company's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $58.83, for a total value of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares in the company, valued at $2,001,573.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the transaction, the executive vice president now owns 34,023 shares in the company, valued at $2,001,573.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the transaction, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock worth $15,021,192 over the last quarter. 24.79% of the stock is currently owned by insiders.

Skechers U.S.A. Stock Down 1.7 %

NYSE:SKX traded down $0.95 during mid-day trading on Friday, hitting $56.17. 1,176,407 shares of the company's stock traded hands, compared to its average volume of 1,208,260. The company has a fifty day moving average of $59.79 and a 200 day moving average of $57.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The company has a market capitalization of $8.61 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.02 and a beta of 1.32. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $65.17.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.04. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. On average, analysts forecast that Skechers U.S.A., Inc. will post 3.82 EPS for the current year.

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.