X Square Capital LLC Buys 210 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

X Square Capital LLC grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,835 shares of the textile maker’s stock after acquiring an additional 210 shares during the period. Skechers U.S.A. comprises approximately 1.2% of X Square Capital LLC’s investment portfolio, making the stock its 29th biggest holding. X Square Capital LLC’s holdings in Skechers U.S.A. were worth $2,880,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock worth $843,474,000 after buying an additional 82,143 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after acquiring an additional 953,528 shares in the last quarter. Geode Capital Management LLC lifted its stake in Skechers U.S.A. by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after acquiring an additional 11,026 shares during the period. Norges Bank bought a new position in Skechers U.S.A. during the 4th quarter worth about $105,741,000. Finally, Charles Schwab Investment Management Inc. increased its position in Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SKX. Bank of America dropped their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James reduced their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Piper Sandler began 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 target on the stock. Finally, UBS Group reduced 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 note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.42.

Skechers U.S.A. Stock Up 0.8 %

Skechers U.S.A. stock opened at $57.79 on Friday. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The company has a market cap of $8.63 billion, a PE ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The business’s 50-day simple moving average is $64.54 and its two-hundred day simple moving average is $65.27.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Activity

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale 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 stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock valued at $14,700,809 in the last quarter. 24.75% of the stock is currently owned by company insiders.

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.