Perbak Capital Partners LLP Invests $275,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Perbak Capital Partners LLP acquired a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,089 shares of the textile maker’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC increased its stake in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in 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 during the period. UMB Bank n.a. grew its position 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 purchasing an additional 239 shares in the last quarter. IFP Advisors Inc raised its position in shares of Skechers U.S.A. by 62.4% in 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. purchased a new position in Skechers U.S.A. during the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $48.07 on Tuesday. The business has a 50-day simple moving average of $54.45 and a two-hundred day simple moving average of $62.51. The company has a market cap of $7.18 billion, a PE ratio of 11.58, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following 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 SEC, which is available at this link. Also, EVP Mark A. Nason sold 12,046 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the sale, the executive vice president now owns 25,675 shares of the company’s stock, valued at $1,696,604. This trade represents a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock worth $13,452,902 over the last quarter. Insiders own 24.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Raymond James lowered 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 research report on Friday, February 7th. Evercore ISI reduced their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. UBS Group dropped their price target on Skechers U.S.A. from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Monness Crespi & Hardt decreased their price target 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. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.62.

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.