Baker Ellis Asset Management LLC trimmed its stake in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,234 shares of the textile maker’s stock after selling 4,140 shares during the period. Baker Ellis Asset Management LLC owned approximately 0.07% of Skechers U.S.A. worth $4,247,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of SKX. Pure Financial Advisors LLC purchased a new position in Skechers U.S.A. during the 4th quarter worth $305,000. Duality Advisers LP purchased a new position in Skechers U.S.A. during the 4th quarter worth $378,000. Credit Suisse AG grew its position in Skechers U.S.A. by 7.0% during the 3rd quarter. Credit Suisse AG now owns 201,784 shares of the textile maker’s stock worth $6,401,000 after purchasing an additional 13,115 shares during the last quarter. Hedges Asset Management LLC purchased a new position in Skechers U.S.A. during the 4th quarter worth $222,000. Finally, Assenagon Asset Management S.A. grew its position in Skechers U.S.A. by 66.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 873,796 shares of the textile maker’s stock worth $36,656,000 after purchasing an additional 348,499 shares during the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SKX. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Skechers U.S.A. from $56.00 to $57.00 in a report on Friday, April 28th. Stifel Nicolaus raised their price objective on shares of Skechers U.S.A. from $54.00 to $59.00 in a research note on Friday, April 28th. Piper Sandler lifted their target price on shares of Skechers U.S.A. from $47.00 to $52.00 in a research report on Friday, April 28th. Cowen upgraded shares of Skechers U.S.A. from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $65.00 in a research report on Monday, January 23rd. Finally, Morgan Stanley boosted their price objective on shares of Skechers U.S.A. from $46.00 to $48.00 in a research report on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.50.
Insider Activity
In other news, EVP Mark A. Nason sold 1,093 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $45.12, for a total value of $49,316.16. Following the completion of the transaction, the executive vice president now directly owns 18,903 shares in the company, valued at $852,903.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Katherine J. Blair sold 3,500 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $52.70, for a total value of $184,450.00. Following the sale, the director now directly owns 7,000 shares of the company’s stock, valued at $368,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark A. Nason sold 1,093 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.12, for a total transaction of $49,316.16. Following the sale, the executive vice president now directly owns 18,903 shares in the company, valued at $852,903.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,805 shares of company stock worth $4,806,675. 24.44% of the stock is currently owned by company insiders.
Skechers U.S.A. Trading Up 0.1 %
SKX traded up $0.05 during trading on Friday, hitting $52.55. 670,171 shares of the company’s stock were exchanged, compared to its average volume of 1,814,258. The company has a current ratio of 2.41, a quick ratio of 1.43 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a 1 year low of $31.28 and a 1 year high of $54.36. The stock has a 50 day moving average price of $47.75 and a 200 day moving average price of $44.22. The firm has a market cap of $8.15 billion, a P/E ratio of 19.96 and a beta of 1.32.
Skechers U.S.A. Profile
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the Wholesale and Direct-to-Consumer segment. The Wholesale segment includes department stores, family shoe stores, specialty running, and sporting goods retailers.
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