SRS Capital Advisors Inc. Acquires 359 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

SRS Capital Advisors Inc. lifted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 31.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,490 shares of the textile maker’s stock after purchasing 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.

Other large investors have also bought and sold shares of the company. Private Advisor Group LLC acquired a new position in shares of Skechers U.S.A. in the third quarter valued at approximately $289,000. QRG Capital Management Inc. lifted its position in Skechers U.S.A. by 2.6% in the 3rd quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock valued at $747,000 after acquiring an additional 284 shares in the last quarter. Advisor Resource Council acquired a new position in Skechers U.S.A. in the 3rd quarter worth $420,000. Mainstream Capital Management LLC bought a new position in Skechers U.S.A. during the 3rd quarter worth about $425,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at about $3,065,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $58.90 on Friday. The stock has a market cap of $8.89 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.11 and a beta of 1.21. The company has a fifty day moving average price of $68.18 and a two-hundred day moving average price of $66.42. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This trade represents a 42.29 % 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 company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on SKX shares. TD Cowen upped their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target for the company. 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. Barclays cut their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. 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. 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.