Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lowered its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 13.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,725 shares of the textile maker’s stock after selling 568 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Skechers U.S.A. were worth $250,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SKX. UMB Bank n.a. grew its stake in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the period. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. during the 3rd quarter worth $67,000. Blue Trust Inc. boosted its stake in Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares during the last quarter. Finally, Quarry LP boosted its stake in Skechers U.S.A. by 44.6% during the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock worth $82,000 after purchasing an additional 366 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SKX shares. Morgan Stanley lifted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America reduced their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler started coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. TD Cowen boosted their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $75.71 on Friday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $76.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The business has a 50 day simple moving average of $67.50 and a 200-day simple moving average of $65.76. The stock has a market capitalization of $11.43 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

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.