Nordea Investment Management AB Takes $2.75 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Nordea Investment Management AB purchased a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 40,645 shares of the textile maker’s stock, valued at approximately $2,752,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tidal Investments LLC grew its stake in Skechers U.S.A. by 24.3% in the 3rd quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock valued at $3,468,000 after buying an additional 10,122 shares during the last quarter. World Investment Advisors LLC acquired a new position in Skechers U.S.A. in the 3rd quarter valued at $1,182,000. Sanctuary Advisors LLC grew its stake in Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after buying an additional 13,836 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its position in Skechers U.S.A. by 31.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock worth $5,985,000 after purchasing an additional 21,275 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Skechers U.S.A. in the 3rd quarter worth $2,402,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

SKX has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Morgan Stanley raised their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating for the company. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Barclays lifted their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.42.

Skechers U.S.A. Trading Up 1.0 %

Shares of NYSE SKX opened at $70.03 on Friday. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The company has a market cap of $10.57 billion, a PE ratio of 17.25, a P/E/G ratio of 0.98 and a beta of 1.19. 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 50-day moving average of $66.03 and a two-hundred day moving average of $65.60.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company 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.