Patron Partners LLC Invests $234,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Patron Partners LLC purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,485 shares of the textile maker’s stock, valued at approximately $234,000.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 valued at $148,395,000 after acquiring an additional 11,026 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Skechers U.S.A. by 1.3% during 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 purchasing an additional 17,429 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after buying an additional 287,939 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after purchasing an additional 49,734 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of SKX opened at $72.51 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $69.65 and a 200-day moving average of $66.20. The stock has a market capitalization of $10.95 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.92 and a beta of 1.19. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $78.85.

Analysts Set New Price Targets

Several brokerages have weighed in on SKX. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, January 29th. Morgan Stanley raised their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Piper Sandler began coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Evercore ISI boosted 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, January 28th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.18.

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.