Securian Asset Management Inc. Has $669,000 Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Securian Asset Management Inc. lessened its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,948 shares of the textile maker’s stock after selling 358 shares during the period. Securian Asset Management Inc.’s holdings in Skechers U.S.A. were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SKX. Victory Capital Management Inc. increased its position in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after purchasing an additional 25,289 shares during the period. Empowered Funds LLC acquired a new position in Skechers U.S.A. in the third quarter valued at about $7,300,000. Quest Partners LLC raised its stake in Skechers U.S.A. by 32.0% in the third quarter. Quest Partners LLC now owns 26,170 shares of the textile maker’s stock valued at $1,751,000 after purchasing an additional 6,338 shares in the last quarter. Lindenwold Advisors INC raised its stake in Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 195 shares in the last quarter. Finally, Commerce Bank raised its stake in Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after purchasing an additional 423,204 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock worth $14,700,809 over the last ninety days. 24.75% of the stock is owned by insiders.

Analyst Ratings Changes

SKX has been the subject of a number of analyst reports. UBS Group dropped their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, TD Cowen lifted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $81.25.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $56.58 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.45 billion, a PE ratio of 13.63, a P/E/G ratio of 1.11 and a beta of 1.21. Skechers U.S.A., Inc. has a 12 month low of $53.79 and a 12 month high of $78.85. The stock has a 50-day moving average price of $66.83 and a two-hundred day moving average price of $65.89.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS 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.