Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd grew its position in Skechers U.S.A., Inc. (NYSE:SKX) by 437.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,848 shares of the textile maker’s stock after purchasing an additional 6,387 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Skechers U.S.A. were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Stifel Financial Corp grew its stake in Skechers U.S.A. by 120.7% during the third quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker’s stock worth $4,872,000 after buying an additional 39,819 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after acquiring an additional 287,939 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in Skechers U.S.A. during the 3rd quarter worth $4,588,000. National Bank of Canada FI increased its holdings in Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after purchasing an additional 67,812 shares in the last quarter. Finally, Vestcor Inc acquired a new position in shares of Skechers U.S.A. during the third quarter worth about $730,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $50.29 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A., Inc. has a 12-month low of $45.69 and a 12-month high of $78.85. The business’s fifty day moving average price is $62.35 and its 200 day moving average price is $64.75. The stock has a market capitalization of $7.51 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly 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%. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analyst Ratings Changes

SKX has been the topic of several analyst reports. Bank of America dropped their target price on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Evercore ISI boosted their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Barclays lowered their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Raymond James cut their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $80.42.

Insider Activity

In other news, EVP Mark A. Nason sold 12,046 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at approximately $1,696,604. This represents a 31.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is currently owned by insiders.

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.