Tower Research Capital LLC TRC Grows Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Tower Research Capital LLC TRC raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 139.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,459 shares of the textile maker's stock after buying an additional 6,668 shares during the period. Tower Research Capital LLC TRC's holdings in Skechers U.S.A. were worth $771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. NewEdge Advisors LLC increased its stake in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares in the last quarter. UMB Bank n.a. boosted its stake in Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after buying an additional 239 shares during the last quarter. IFP Advisors Inc grew its holdings in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock valued at $55,000 after buying an additional 317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Skechers U.S.A. in the 4th quarter worth $65,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 4.2 %

Shares of SKX stock traded up $2.02 during trading hours on Friday, reaching $49.75. 1,597,963 shares of the stock were exchanged, compared to its average volume of 2,998,494. The business's fifty day moving average is $53.53 and its two-hundred day moving average is $62.20. The firm has a market capitalization of $7.43 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The business 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 company's revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. As a group, research analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Skechers U.S.A. from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday. Bank of America dropped their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Raymond James decreased their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Evercore ISI dropped their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Monness Crespi & Hardt decreased their price target on Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.62.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 36,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares of the company's stock, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Greenberg sold 33,656 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the transaction, the president now owns 137,530 shares in the company, valued at approximately $8,356,322.80. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.78% of the stock is currently owned by corporate insiders.

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.