Janney Montgomery Scott LLC Sells 5,384 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Janney Montgomery Scott LLC reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) by 21.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,038 shares of the textile maker’s stock after selling 5,384 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Skechers U.S.A. were worth $636,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SKX. State of Alaska Department of Revenue grew its position in shares of Skechers U.S.A. by 2.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 19,366 shares of the textile maker’s stock worth $689,000 after purchasing an additional 385 shares in the last quarter. Bfsg LLC grew its position in shares of Skechers U.S.A. by 5.8% during the 2nd quarter. Bfsg LLC now owns 7,063 shares of the textile maker’s stock worth $251,000 after purchasing an additional 385 shares in the last quarter. Thompson Investment Management Inc. grew its position in shares of Skechers U.S.A. by 0.5% during the 2nd quarter. Thompson Investment Management Inc. now owns 91,684 shares of the textile maker’s stock worth $3,262,000 after purchasing an additional 479 shares in the last quarter. Allworth Financial LP grew its position in shares of Skechers U.S.A. by 162.5% during the 3rd quarter. Allworth Financial LP now owns 790 shares of the textile maker’s stock worth $25,000 after purchasing an additional 489 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its position in shares of Skechers U.S.A. by 7.8% during the 2nd quarter. Summit Trail Advisors LLC now owns 7,583 shares of the textile maker’s stock worth $270,000 after purchasing an additional 548 shares in the last quarter. 93.29% of the stock is owned by institutional investors.

Insider Activity

In other news, COO David Weinberg sold 8,403 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $355,362.87. Following the completion of the transaction, the chief operating officer now owns 124,419 shares of the company’s stock, valued at $5,261,679.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Katherine J. Blair sold 1,500 shares of Skechers U.S.A. stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $35.16, for a total transaction of $52,740.00. Following the completion of the transaction, the director now owns 10,500 shares of the company’s stock, valued at $369,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,403 shares of Skechers U.S.A. stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total transaction of $355,362.87. Following the transaction, the chief operating officer now directly owns 124,419 shares of the company’s stock, valued at approximately $5,261,679.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,967 shares of company stock valued at $876,358. Insiders own 24.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SKX shares. Wedbush decreased their target price on shares of Skechers U.S.A. from $42.00 to $37.00 in a research report on Wednesday, October 26th. Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Wednesday, December 28th. They set a “neutral” rating and a $42.00 price target on the stock. StockNews.com began coverage on shares of Skechers U.S.A. in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Argus upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, January 6th. Finally, Cowen increased their price target on shares of Skechers U.S.A. from $31.00 to $48.00 in a research report on Tuesday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.83.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $46.62 on Friday. Skechers U.S.A., Inc. has a fifty-two week low of $31.28 and a fifty-two week high of $49.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.27 and a quick ratio of 1.14. The firm has a market capitalization of $7.23 billion, a P/E ratio of 10.45 and a beta of 1.28. The company’s 50 day moving average price is $42.50 and its two-hundred day moving average price is $38.66.

Skechers U.S.A. (NYSE:SKX – Get Rating) last issued its earnings results on Tuesday, October 25th. The textile maker reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.19). The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.84 billion. Skechers U.S.A. had a net margin of 9.70% and a return on equity of 10.03%. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 2.26 earnings per share for the current fiscal year.

Skechers U.S.A. Profile

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Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.