Russell Investments Group Ltd. Boosts Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Russell Investments Group Ltd. raised its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 187.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,244 shares of the textile maker's stock after buying an additional 92,082 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Skechers U.S.A. worth $8,806,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Huntington National Bank lifted its position in shares of Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker's stock worth $28,000 after acquiring an additional 517 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Skechers U.S.A. in the third quarter worth about $31,000. GAMMA Investing LLC acquired a new stake in Skechers U.S.A. in the fourth quarter worth about $36,000. Planned Solutions Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter worth about $70,000. Finally, Meeder Asset Management Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter worth about $77,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Evercore ISI cut their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an "outperform" rating on the stock in a report on Wednesday, April 17th. Bank of America initiated coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a "neutral" rating and a $67.00 target price on the stock. Raymond James cut their target price on Skechers U.S.A. from $68.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, February 5th. Barclays initiated coverage on Skechers U.S.A. in a research report on Monday, April 1st. They set an "overweight" rating and a $71.00 target price for the company. Finally, Stifel Nicolaus cut their target price on Skechers U.S.A. from $72.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.83.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $0.40 during mid-day trading on Tuesday, reaching $66.39. 1,956,932 shares of the company's stock were exchanged, compared to its average volume of 1,729,013. The firm has a market capitalization of $10.18 billion, a PE ratio of 17.47, a P/E/G ratio of 1.17 and a beta of 1.29. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $69.07. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The business's fifty day simple moving average is $60.66 and its 200 day simple moving average is $59.02.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert Greenberg sold 30,339 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 132,783 shares of the company's stock, valued at approximately $8,114,369.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Mark A. Nason sold 6,067 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the transaction, the executive vice president now directly owns 14,023 shares in the company, valued at $856,945.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg sold 30,339 shares of the company's 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 sale, the chief executive officer now directly owns 132,783 shares in the company, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 over the last ninety days. 24.75% of the stock is currently owned by insiders.

About Skechers U.S.A.

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.