ARP Americas LP purchased a new stake in Skechers USA Inc (NYSE:SKX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,300 shares of the textile maker’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Granite Investment Partners LLC acquired a new stake in shares of Skechers USA during the 4th quarter worth approximately $739,000. Kepos Capital LP acquired a new stake in shares of Skechers USA during the 4th quarter worth approximately $513,000. Pitcairn Co. raised its position in shares of Skechers USA by 12.9% during the 4th quarter. Pitcairn Co. now owns 19,628 shares of the textile maker’s stock worth $449,000 after purchasing an additional 2,244 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Skechers USA by 7.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 81,568 shares of the textile maker’s stock worth $1,733,000 after purchasing an additional 5,516 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Skechers USA during the 4th quarter worth approximately $197,000. 75.73% of the stock is owned by hedge funds and other institutional investors.

In other news, President Michael Greenberg sold 71,178 shares of Skechers USA stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $32.69, for a total transaction of $2,326,808.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO David Weinberg sold 32,943 shares of Skechers USA stock in a transaction on Monday, March 4th. The shares were sold at an average price of $34.09, for a total value of $1,123,026.87. Following the transaction, the chief operating officer now owns 473,097 shares in the company, valued at $16,127,876.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 464,877 shares of company stock worth $15,713,901. 27.88% of the stock is owned by insiders.

A number of brokerages have recently weighed in on SKX. Standpoint Research cut Skechers USA from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. TheStreet upgraded Skechers USA from a “c+” rating to a “b” rating in a research report on Thursday, February 14th. Cowen reiterated a “hold” rating and set a $34.00 price target on shares of Skechers USA in a research report on Tuesday, February 12th. UBS Group raised their target price on Skechers USA from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, February 11th. Finally, Cfra cut Skechers USA from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.91.

SKX opened at $32.75 on Friday. Skechers USA Inc has a 12 month low of $21.45 and a 12 month high of $43.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.89 and a current ratio of 2.91. The company has a market capitalization of $5.15 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.29 and a beta of 0.62.

Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, February 7th. The textile maker reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. Skechers USA had a return on equity of 14.08% and a net margin of 6.49%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Skechers USA Inc will post 2.04 earnings per share for the current fiscal year.

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Skechers USA Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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