GHP Investment Advisors Inc. Grows Position in Skechers U.S.A., Inc. (NYSE:SKX)

GHP Investment Advisors Inc. increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 7,326.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,422 shares of the textile maker’s stock after acquiring an additional 20,147 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Skechers U.S.A. were worth $1,373,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC boosted its holdings in shares of Skechers U.S.A. by 88.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after purchasing an additional 13,836 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of 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 buying an additional 25,289 shares in the last quarter. Transform Wealth LLC bought a new position in Skechers U.S.A. during the third quarter valued at approximately $7,186,000. National Bank of Canada FI grew its holdings in Skechers U.S.A. by 2,340.0% during the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after buying an additional 67,812 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Skechers U.S.A. by 1.3% in the 3rd 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 last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Down 12.6 %

Shares of NYSE SKX opened at $66.06 on Friday. The business’s 50 day moving average price is $70.51 and its 200-day moving average price is $66.46. 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 quick ratio of 1.25 and a current ratio of 1.96. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.92 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 13.71% and a net margin of 7.19%. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SKX. TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler started coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. Evercore ISI boosted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, UBS Group dropped their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.50.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. 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 directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by company insiders.

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.