United Asset Strategies Inc. Acquires Shares of 23,991 Skechers U.S.A., Inc. (NYSE:SKX)

United Asset Strategies Inc. purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,991 shares of the textile maker's stock, valued at approximately $1,496,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of Skechers U.S.A. by 354.5% in the 4th quarter. Raymond James & Associates now owns 52,280 shares of the textile maker's stock valued at $3,259,000 after purchasing an additional 40,778 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in Skechers U.S.A. during the 4th quarter worth about $1,798,000. Vaughan Nelson Investment Management L.P. lifted its position in Skechers U.S.A. by 371.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker's stock worth $47,282,000 after buying an additional 597,702 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Skechers U.S.A. by 56.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker's stock worth $4,720,000 after buying an additional 34,926 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Skechers U.S.A. by 117.4% during the 3rd quarter. Hsbc Holdings PLC now owns 99,916 shares of the textile maker's stock worth $4,915,000 after buying an additional 53,962 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Insider Activity

In other news, COO David Weinberg sold 67,390 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the sale, the chief operating officer now directly owns 141,405 shares of the company's stock, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares of the company's stock, valued at approximately $8,114,369.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 67,390 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares of the company's stock, valued at $8,183,107.35. The disclosure for this sale can be found here. Insiders sold a total of 254,875 shares of company stock valued at $15,021,192 in the last ninety days. 24.79% of the stock is owned by insiders.

Skechers U.S.A. Trading Down 1.5 %

Shares of SKX stock traded down $0.87 on Wednesday, reaching $56.52. The company had a trading volume of 1,617,606 shares, compared to its average volume of 1,582,052. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $8.66 billion, a PE ratio of 16.19, a PEG ratio of 1.02 and a beta of 1.32. The company has a 50-day moving average of $59.74 and a 200-day moving average of $57.58. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $65.17.

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

Analyst Upgrades and Downgrades

SKX has been the topic of several research reports. TD Cowen upped their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Raymond James reduced their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, February 5th. Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, February 2nd. Evercore ISI reduced their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, Barclays began 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. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Moderate Buy" and an average target price of $66.17.

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.