Jackson Creek Investment Advisors LLC Raises Position in Skechers U.S.A., Inc. (NYSE:SKX)

Jackson Creek Investment Advisors LLC lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 58.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,836 shares of the textile maker’s stock after acquiring an additional 5,866 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Skechers U.S.A. were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $36,000. Huntington National Bank raised its holdings in Skechers U.S.A. by 861.7% in the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Skechers U.S.A. in the third quarter worth approximately $31,000. Planned Solutions Inc. purchased a new position in Skechers U.S.A. in the fourth quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. acquired a new position in Skechers U.S.A. during the 4th quarter worth approximately $77,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the transaction, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the transaction, the chief executive officer now directly owns 196,050 shares in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 67,390 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares in the company, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock worth $15,021,192 in the last quarter. Company insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SKX. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Bank of America initiated coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price target for the company. Monness Crespi & Hardt increased their price objective on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Barclays assumed coverage on Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 target price for the company. Finally, Evercore ISI dropped their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.83.

Skechers U.S.A. Stock Performance

Shares of SKX traded down $0.14 during mid-day trading on Tuesday, reaching $66.05. 2,071,945 shares of the company’s stock were exchanged, compared to its average volume of 1,738,033. The business’s fifty day simple moving average is $59.86 and its 200-day simple moving average is $58.30. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $69.07. The stock has a market capitalization of $10.12 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $1.02 EPS. Skechers U.S.A.’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Skechers U.S.A., Inc. will post 4.06 earnings per share for the current year.

Skechers U.S.A. 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.