Tudor Investment Corp ET AL Has $6.97 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Tudor Investment Corp ET AL raised its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 604.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,692 shares of the textile maker's stock after buying an additional 88,968 shares during the period. Tudor Investment Corp ET AL owned approximately 0.07% of Skechers U.S.A. worth $6,972,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company's stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David Weinberg sold 36,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction 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 approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 in the last quarter. Corporate insiders own 24.78% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Monness Crespi & Hardt reduced their price objective on shares of 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. Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus cut their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Bank of America decreased their target price on 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. Finally, TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.62.

Skechers U.S.A. Stock Performance

Shares of SKX stock traded up $1.55 during trading hours on Friday, reaching $49.28. The stock had a trading volume of 3,604,934 shares, compared to its average volume of 2,316,244. The firm has a market capitalization of $7.36 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The firm has a 50-day simple moving average of $53.28 and a 200-day simple moving average of $62.10. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve 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 results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. The company 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%. Skechers U.S.A.'s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 earnings per share. As a group, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.