Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Xponance Inc.

Xponance Inc. decreased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,763 shares of the textile maker’s stock after selling 189 shares during the quarter. Xponance Inc.’s holdings in Skechers U.S.A. were worth $1,107,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SKX. CWM LLC increased its holdings in Skechers U.S.A. by 138.1% in the third quarter. CWM LLC now owns 3,662 shares of the textile maker’s stock valued at $179,000 after buying an additional 2,124 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in Skechers U.S.A. by 109.4% in the third quarter. Coronation Fund Managers Ltd. now owns 111,589 shares of the textile maker’s stock valued at $5,462,000 after buying an additional 58,288 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Skechers U.S.A. by 17.5% in the third quarter. Commonwealth Equity Services LLC now owns 60,151 shares of the textile maker’s stock valued at $2,944,000 after buying an additional 8,957 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Skechers U.S.A. by 10.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,898 shares of the textile maker’s stock valued at $338,000 after buying an additional 678 shares during the last quarter. Finally, Tectonic Advisors LLC bought a new stake in Skechers U.S.A. in the third quarter valued at about $261,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares in the company, valued at $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Michael Greenberg sold 25,282 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the sale, the president now owns 123,441 shares in the company, valued at approximately $7,543,479.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the sale, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock worth $15,021,192 over the last ninety days. Company insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the subject of several research analyst reports. Evercore ISI lowered their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $68.00 target price on shares of Skechers U.S.A. in a report on Friday, April 19th. Raymond James lowered their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. TD Cowen upped their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Monness Crespi & Hardt upped their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.17.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $59.14 on Thursday. The company has a market cap of $9.06 billion, a PE ratio of 16.95, a P/E/G ratio of 1.08 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $65.17. The stock has a 50 day simple moving average of $59.64 and a 200-day simple moving average of $57.91.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 3.81 EPS 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.