Skechers U.S.A., Inc. (NYSE:SKX) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 15.2% in the 4th quarter, HoldingsChannel reports. The firm owned 120,007 shares of the textile maker’s stock after purchasing an additional 15,874 shares during the period. Assenagon Asset Management S.A.’s holdings in Skechers U.S.A. were worth $8,069,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. UMB Bank n.a. grew its position in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after acquiring an additional 299 shares during the last quarter. Brooklyn Investment Group acquired a new position in Skechers U.S.A. during the 3rd quarter worth approximately $67,000. Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Skechers U.S.A. by 44.6% in the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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

In related news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. 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 completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. 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 for the company in a research note on Friday, October 25th. Piper Sandler began coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target for the company. Needham & Company LLC initiated coverage on Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley upped their price target 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Skechers U.S.A. Stock Up 1.1 %

Skechers U.S.A. stock opened at $70.09 on Monday. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $66.81 and a two-hundred day moving average of $65.63. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.86 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, research analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current year.

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.