Harbour Trust & Investment Management Co Grows Position in Skechers U.S.A., Inc. (NYSE:SKX)

Harbour Trust & Investment Management Co boosted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,528 shares of the textile maker’s stock after buying an additional 4,555 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Skechers U.S.A. were worth $4,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. UMB Bank n.a. increased its position in Skechers U.S.A. by 423.3% during the third 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 last quarter. Venturi Wealth Management LLC lifted its stake in shares of Skechers U.S.A. by 52.9% in 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 period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skechers U.S.A. in the fourth quarter worth approximately $65,000. Brooklyn Investment Group bought a new stake in Skechers U.S.A. during the third quarter valued at approximately $67,000. Finally, Blue Trust Inc. grew its position in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 shares during the period. Institutional investors own 79.96% of the company’s stock.

Insider Activity

In other news, President Michael Greenberg sold 10,274 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SKX shares. UBS Group cut their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday. Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Barclays upped their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $66.06 on Monday. The company has a market capitalization of $9.97 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.95 and a beta of 1.19. The business’s 50-day moving average is $70.55 and its 200 day moving average is $66.48. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.79 earnings per share for the current fiscal year.

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.