Aigen Investment Management LP Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Aigen Investment Management LP purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 76,223 shares of the textile maker's stock, valued at approximately $4,752,000. Skechers U.S.A. accounts for about 0.8% of Aigen Investment Management LP's investment portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank grew 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 acquiring an additional 517 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Skechers U.S.A. during the 3rd quarter valued at about $31,000. GAMMA Investing LLC purchased a new position in Skechers U.S.A. in the 4th quarter valued at about $36,000. Planned Solutions Inc. purchased a new position in Skechers U.S.A. in the 4th quarter valued at about $70,000. Finally, Meeder Asset Management Inc. purchased a new position in Skechers U.S.A. in the 4th quarter valued at about $77,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SKX. Bank of America began coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They issued a "neutral" rating and a $67.00 price target on the stock. Barclays began coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an "overweight" rating and a $71.00 price target on the stock. TD Cowen raised their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 2nd. Finally, Wedbush reissued an "outperform" rating and issued a $76.00 target price on shares of Skechers U.S.A. in a research note on Friday. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.83.

Skechers U.S.A. Trading Down 0.2 %

Shares of NYSE SKX traded down $0.17 during midday trading on Monday, reaching $68.25. 1,222,711 shares of the stock were exchanged, compared to its average volume of 1,673,240. The company has a 50 day simple moving average of $61.80 and a 200 day simple moving average of $60.19. The stock has a market capitalization of $10.41 billion, a P/E ratio of 17.99, a PEG ratio of 1.20 and a beta of 1.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $69.80.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business's revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.06 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 30,339 shares of Skechers U.S.A. 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 $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Robert Greenberg sold 30,339 shares of Skechers U.S.A. 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 $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Weinberg sold 20,226 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the completion of the sale, the chief operating officer now owns 99,655 shares of the company's stock, valued at approximately $6,089,917.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,914 shares of company stock worth $5,005,765. Insiders own 24.75% of the company's stock.

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.

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