Foundations Investment Advisors LLC Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Foundations Investment Advisors LLC acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,292 shares of the textile maker’s stock, valued at approximately $221,000.

Several other hedge funds have also recently bought and sold shares of SKX. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares during the period. Venturi Wealth Management LLC increased its position in 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 valued at $58,000 after acquiring an additional 299 shares during the period. Brooklyn Investment Group bought a new stake in Skechers U.S.A. during the 3rd quarter valued at $67,000. Blue Trust Inc. boosted its position 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 acquiring an additional 887 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Skechers U.S.A. by 23.1% in the third quarter. First Horizon Advisors Inc. now owns 1,545 shares of the textile maker’s stock worth $103,000 after purchasing an additional 290 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SKX. Barclays increased their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI upped their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday. Piper Sandler initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.18.

Skechers U.S.A. Trading Down 3.8 %

NYSE:SKX opened at $75.27 on Friday. The stock has a market cap of $11.36 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. 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 stock’s 50-day moving average is $69.38 and its two-hundred day moving average is $66.14.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

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.