Campbell & CO Investment Adviser LLC Invests $916,000 in Skechers U.S.A., Inc. (NYSE:SKX)
Campbell & CO Investment Adviser LLC bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,840 shares of the textile maker’s stock, valued at approximately $916,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in shares of Skechers U.S.A. by 9.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 25,954 shares of the textile maker’s stock worth $1,089,000 after purchasing an additional 2,341 shares during the last quarter. Pure Financial Advisors LLC bought a new stake in Skechers U.S.A. during the fourth quarter worth $305,000. Duality Advisers LP acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $378,000. Credit Suisse AG lifted its stake in Skechers U.S.A. by 7.0% in the third quarter. Credit Suisse AG now owns 201,784 shares of the textile maker’s stock valued at $6,401,000 after acquiring an additional 13,115 shares during the last quarter. Finally, Hedges Asset Management LLC bought a new position in shares of Skechers U.S.A. in the 4th quarter valued at about $222,000. Institutional investors own 93.29% of the company’s stock.
Skechers U.S.A. Price Performance
NYSE:SKX opened at $53.80 on Friday. Skechers U.S.A., Inc. has a 52 week low of $31.28 and a 52 week high of $54.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.43 and a current ratio of 2.41. The firm’s 50-day simple moving average is $51.01 and its 200 day simple moving average is $46.58. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 20.46 and a beta of 1.32.
Skechers U.S.A. (NYSE:SKX – Get Rating) last announced its earnings results on Thursday, April 27th. The textile maker reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.41. Skechers U.S.A. had a net margin of 5.41% and a return on equity of 10.72%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.84 billion. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 3.14 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Katherine J. Blair sold 3,500 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $52.70, for a total transaction of $184,450.00. Following the completion of the sale, the director now directly owns 7,000 shares in the company, valued at approximately $368,900. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Katherine J. Blair sold 3,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $368,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Siskind sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $53.68, for a total transaction of $1,073,600.00. Following the sale, the director now owns 152,999 shares in the company, valued at approximately $8,212,986.32. The disclosure for this sale can be found here. Corporate insiders own 24.44% of the company’s stock.
Analysts Set New Price Targets
SKX has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Skechers U.S.A. from $46.00 to $48.00 in a research note on Friday, April 28th. Raymond James raised their price objective on Skechers U.S.A. from $48.00 to $58.00 in a research report on Friday, April 28th. Piper Sandler boosted their target price on Skechers U.S.A. from $47.00 to $52.00 in a report on Friday, April 28th. StockNews.com started coverage on Skechers U.S.A. in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Skechers U.S.A. from $54.00 to $59.00 in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus price target of $56.27.
About Skechers U.S.A.
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.
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