Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC cut its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 81,860 shares of the textile maker’s stock after selling 225 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Skechers U.S.A. were worth $5,504,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted 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 purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of 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 buying an additional 299 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after buying an additional 887 shares during the last quarter. Brooklyn Investment Group bought a new stake in Skechers U.S.A. during the third quarter valued at $67,000. Finally, Quarry LP increased its stake in Skechers U.S.A. by 44.6% during the second quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 366 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SKX. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating for the company. Barclays upped their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.00.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $73.44 on Thursday. 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 company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.90 and a beta of 1.19. The firm has a 50-day moving average of $67.25 and a two-hundred day moving average of $65.71.

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 for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal 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.