Macquarie Group Ltd. Acquires 15,785 Shares of Skechers USA Inc (SKX)

Macquarie Group Ltd. lifted its holdings in shares of Skechers USA Inc (NYSE:SKX) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,085 shares of the textile maker’s stock after purchasing an additional 15,785 shares during the period. Macquarie Group Ltd. owned about 0.06% of Skechers USA worth $3,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SKX. Capital Growth Management LP purchased a new position in shares of Skechers USA during the 4th quarter worth approximately $66,598,000. BlackRock Inc. increased its stake in shares of Skechers USA by 6.5% during the 4th quarter. BlackRock Inc. now owns 12,404,460 shares of the textile maker’s stock worth $469,385,000 after purchasing an additional 756,078 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Skechers USA by 126.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,314,408 shares of the textile maker’s stock worth $32,544,000 after purchasing an additional 734,414 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Skechers USA by 45.3% during the 4th quarter. Teachers Advisors LLC now owns 1,826,444 shares of the textile maker’s stock worth $69,113,000 after purchasing an additional 569,715 shares in the last quarter. Finally, Davidson Kempner Capital Management LP increased its stake in shares of Skechers USA by 140.6% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 962,500 shares of the textile maker’s stock worth $24,149,000 after purchasing an additional 562,500 shares in the last quarter. 73.09% of the stock is owned by institutional investors and hedge funds.

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In other news, COO David Weinberg sold 23,183 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $40.34, for a total transaction of $935,202.22. Following the completion of the sale, the chief operating officer now directly owns 476,187 shares of the company’s stock, valued at approximately $19,209,383.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark A. Nason sold 16,701 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $40.34, for a total transaction of $673,718.34. Following the sale, the executive vice president now directly owns 65,453 shares of the company’s stock, valued at $2,640,374.02. The disclosure for this sale can be found here. Insiders have sold a total of 95,286 shares of company stock valued at $3,804,003 over the last three months. Corporate insiders own 21.73% of the company’s stock.

A number of research analysts have recently weighed in on SKX shares. Susquehanna Bancshares reissued a “buy” rating and set a $46.00 price objective on shares of Skechers USA in a research note on Monday, December 4th. Cowen set a $42.00 price objective on shares of Skechers USA and gave the stock a “buy” rating in a research note on Monday, December 11th. Vetr cut shares of Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price objective for the company. in a research note on Monday, December 11th. Argus raised shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Zacks Investment Research raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $42.77.

SKX stock opened at $38.89 on Friday. The company has a market capitalization of $6,230.76, a price-to-earnings ratio of 21.85, a PEG ratio of 1.13 and a beta of 0.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.06. Skechers USA Inc has a one year low of $22.64 and a one year high of $42.73.

Skechers USA (NYSE:SKX) last released its earnings results on Thursday, February 8th. The textile maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The firm had revenue of $970.59 million during the quarter, compared to analysts’ expectations of $881.39 million. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. Skechers USA’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. sell-side analysts expect that Skechers USA Inc will post 2.3 EPS for the current year.

Skechers USA announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 8th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the textile maker to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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About Skechers USA

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

Institutional Ownership by Quarter for Skechers USA (NYSE:SKX)

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