Skechers U.S.A., Inc. (NYSE:SKX) Stake Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the textile maker’s stock after purchasing an additional 1,800 shares during the quarter. Intact Investment Management Inc.’s holdings in Skechers U.S.A. were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its stake in Skechers U.S.A. by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock valued at $233,520,000 after buying an additional 112,517 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Skechers U.S.A. by 6,521.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after purchasing an additional 1,434,601 shares during the period. AQR Capital Management LLC increased its holdings in shares of Skechers U.S.A. by 72.8% during the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock valued at $64,185,000 after purchasing an additional 552,452 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Skechers U.S.A. by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,253,160 shares of the textile maker’s stock valued at $61,342,000 after purchasing an additional 36,278 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Skechers U.S.A. by 4.4% during the third quarter. Loomis Sayles & Co. L P now owns 827,991 shares of the textile maker’s stock valued at $40,530,000 after purchasing an additional 35,154 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO David Weinberg sold 67,390 shares of Skechers U.S.A. stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the sale, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Greenberg sold 25,282 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the sale, the president now owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,875 shares of company stock valued at $15,021,192. 24.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SKX. Wedbush raised their price target on Skechers U.S.A. from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Friday. Monness Crespi & Hardt raised their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Bank of America began coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price target on the stock. TD Cowen raised their price target on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Barclays initiated coverage on Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.83.

Skechers U.S.A. Trading Up 11.2 %

Shares of SKX opened at $65.41 on Monday. The business’s 50-day moving average price is $59.73 and its 200 day moving average price is $58.17. The stock has a market capitalization of $10.03 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.12 and a beta of 1.32. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $69.07. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. Skechers U.S.A.’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Analysts expect that Skechers U.S.A., Inc. will post 4.06 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.