SRS Capital Advisors Inc. Has $100,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

SRS Capital Advisors Inc. grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 31.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,490 shares of the textile maker’s stock after buying an additional 359 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Skechers U.S.A. were worth $100,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SKX. Pacer Advisors Inc. increased its holdings in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Bank of New York Mellon Corp boosted its position in Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after acquiring an additional 953,528 shares during the last quarter. Geode Capital Management LLC grew its holdings in Skechers U.S.A. by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after acquiring an additional 11,026 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 period. Finally, Wellington Management Group LLP boosted its holdings in shares of Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after buying an additional 287,939 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

SKX has been the subject of a number of research reports. Piper Sandler started 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 for the company. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Stifel Nicolaus reduced their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Evercore ISI lifted 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 research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.25.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David Weinberg sold 8,219 shares of the 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 completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Trading Down 0.7 %

Shares of Skechers U.S.A. stock opened at $58.90 on Friday. The company’s 50-day moving average price is $68.18 and its 200-day moving average price is $66.42. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

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.