Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 23.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,317 shares of the textile maker’s stock after selling 2,282 shares during the period. Sterling Capital Management LLC’s holdings in Skechers U.S.A. were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in Skechers U.S.A. during the 4th quarter worth $105,741,000. Bank of New York Mellon Corp increased its holdings in Skechers U.S.A. by 70.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after buying an additional 953,528 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Skechers U.S.A. by 68.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after purchasing an additional 253,045 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $12,852,000. Finally, Ranmore Fund Management Ltd purchased a new stake in Skechers U.S.A. in the 4th quarter valued at approximately $10,153,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares of the company’s stock, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 33,656 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the transaction, the president now directly owns 137,530 shares in the company, valued at approximately $8,356,322.80. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock valued at $13,452,902 over the last three months. 24.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Stifel Nicolaus cut their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, Barclays dropped their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.67.

Skechers U.S.A. Stock Up 1.7 %

SKX opened at $47.53 on Friday. The company has a market cap of $7.10 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm has a 50 day moving average price of $56.42 and a 200 day moving average price of $63.32.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. Sell-side analysts expect 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.