Cascade Investment Advisors Inc. Has $1.67 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Cascade Investment Advisors Inc. increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 24,900 shares of the textile maker’s stock after buying an additional 1,795 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Skechers U.S.A. were worth $1,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the last quarter. Brooklyn Investment Group acquired a new position in Skechers U.S.A. in the third quarter valued at about $67,000. Blue Trust Inc. grew its stake in Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after buying an additional 887 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Skechers U.S.A. by 44.6% during the second quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock worth $82,000 after buying an additional 366 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 1.2 %

NYSE:SKX opened at $75.00 on Tuesday. The stock’s fifty day simple moving average is $68.09 and its 200-day simple moving average is $65.87. The firm has a market capitalization of $11.32 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.90 and a beta of 1.19. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $76.67.

Insiders Place Their Bets

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Michael Greenberg sold 10,274 shares of the business’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 approximately $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler started coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America decreased their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Barclays boosted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, TD Cowen raised their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average price target of $79.00.

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.