Foundations Investment Advisors LLC Buys Shares of 3,292 Skechers U.S.A., Inc. (NYSE:SKX)

Foundations Investment Advisors LLC purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,292 shares of the textile maker’s stock, valued at approximately $221,000.

A number of other institutional investors have also modified their holdings of SKX. KBC Group NV grew its position in shares of Skechers U.S.A. by 11.3% in the fourth quarter. KBC Group NV now owns 195,503 shares of the textile maker’s stock valued at $13,146,000 after purchasing an additional 19,865 shares during the period. Blue Trust Inc. grew its holdings in Skechers U.S.A. by 30.4% in the 4th quarter. Blue Trust Inc. now owns 1,305 shares of the textile maker’s stock valued at $87,000 after buying an additional 304 shares during the period. PFG Investments LLC acquired a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $265,000. New Century Financial Group LLC purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth about $1,232,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth approximately $256,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 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 $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David Weinberg sold 8,219 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 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 approximately $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Down 3.8 %

Shares of NYSE:SKX opened at $75.27 on Friday. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. The company has a 50 day moving average of $69.38 and a two-hundred day moving average of $66.14. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays lifted their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.18.

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.