Fox Run Management L.L.C. Lowers Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Fox Run Management L.L.C. trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 39.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,009 shares of the textile maker’s stock after selling 9,604 shares during the quarter. Fox Run Management L.L.C.’s holdings in Skechers U.S.A. were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted 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 worth $1,822,000 after purchasing an additional 13,836 shares during the period. Raymond James Financial Inc. bought a new position in Skechers U.S.A. in the 4th quarter worth approximately $12,852,000. National Bank of Canada FI boosted its stake in Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock worth $4,732,000 after purchasing an additional 67,812 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after purchasing an additional 17,429 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after purchasing an additional 15,874 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, President Michael Greenberg sold 10,274 shares of the stock in a transaction on Tuesday, December 31st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. The trade was a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 over the last quarter. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

SKX stock opened at $56.11 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $65.55 and its two-hundred day simple moving average is $65.52. Skechers U.S.A., Inc. has a twelve month low of $53.79 and a twelve month high of $78.85. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

SKX has been the subject of several recent analyst reports. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Raymond James lowered their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Evercore ISI increased their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, UBS Group lowered their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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.