22,561 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Delphi Management Inc. MA

Delphi Management Inc. MA purchased a new position in Skechers U.S.A., Inc. (NYSE:SKX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,561 shares of the textile maker’s stock, valued at approximately $1,517,000. Skechers U.S.A. accounts for about 1.5% of Delphi Management Inc. MA’s investment portfolio, making the stock its 25th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management grew its stake in shares of Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after acquiring an additional 157 shares during the last quarter. Lindenwold Advisors INC grew its stake in shares of 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 worth $446,000 after acquiring an additional 195 shares during the last quarter. Independent Advisor Alliance grew its stake in shares of Skechers U.S.A. by 4.7% in the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock worth $302,000 after acquiring an additional 200 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SKX has been the topic of a number of recent research reports. 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 target price on the stock. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays lowered their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, UBS Group lowered their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock valued at $14,700,809 over the last quarter. 24.75% of the stock is currently owned by company insiders.

Skechers U.S.A. Stock Up 1.7 %

SKX stock opened at $57.45 on Tuesday. Skechers U.S.A., Inc. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The business’s 50-day moving average is $66.58 and its two-hundred day moving average is $65.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

About Skechers U.S.A.

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.