Verdence Capital Advisors LLC Buys 928 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Verdence Capital Advisors LLC boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,733 shares of the textile maker’s stock after purchasing an additional 928 shares during the period. Verdence Capital Advisors LLC’s holdings in Skechers U.S.A. were worth $3,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its position in Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares during the period. Victory Capital Management Inc. raised its position in Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 25,289 shares during the period. National Bank of Canada FI raised its position in Skechers U.S.A. by 2,340.0% in the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after acquiring an additional 67,812 shares during the period. Charles Schwab Investment Management Inc. raised its position in Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after acquiring an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares during the period. Institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 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 value of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 over the last quarter. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

SKX stock opened at $57.74 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $68.53 and its two-hundred day simple moving average is $66.52. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last released 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 return on equity of 13.73% and a net margin of 7.13%. Analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Raymond James decreased their price target 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. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler began coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 target price for the company. Barclays cut their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, TD Cowen raised their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.