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

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

Several other institutional investors and hedge funds have also recently modified their holdings of SKX. Pacer Advisors Inc. grew its position in Skechers U.S.A. by 5,780.6% during the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Skechers U.S.A. by 0.5% during 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 buying an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 valued at $88,126,000 after acquiring an additional 17,429 shares in the last quarter. Wellington Management Group LLP raised its holdings in Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after acquiring an additional 287,939 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position 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 acquiring an additional 49,734 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Trading Down 12.6 %

Shares of SKX stock opened at $66.06 on Friday. Skechers U.S.A., Inc. has a 1 year low of $55.67 and a 1 year high of $78.85. The firm has a fifty day moving average price of $70.51 and a 200-day moving average price of $66.46. 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. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX) last issued 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 return on equity of 13.71% and a net margin of 7.19%. As a group, equities analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have commented on SKX shares. Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Bank of America lowered their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. UBS Group decreased their price objective on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays increased their price objective 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. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

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.