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

Mutual of America Capital Management LLC lowered its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.5% during the fourth quarter, Holdings Channel reports. The fund owned 82,578 shares of the textile maker’s stock after selling 4,783 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Skechers U.S.A. were worth $5,148,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Skechers U.S.A. by 4.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,675 shares of the textile maker’s stock valued at $1,788,000 after acquiring an additional 1,338 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Skechers U.S.A. by 13,753.3% during the fourth quarter. International Assets Investment Management LLC now owns 12,468 shares of the textile maker’s stock valued at $777,000 after acquiring an additional 12,378 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. during the fourth quarter valued at $77,000. Tamar Securities LLC acquired a new stake in shares of Skechers U.S.A. during the fourth quarter valued at $401,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Skechers U.S.A. by 371.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after buying an additional 597,702 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity at Skechers U.S.A.

In related news, EVP Mark A. Nason sold 6,432 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the sale, the executive vice president now directly owns 34,023 shares in the company, valued at approximately $2,001,573.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the sale, the executive vice president now owns 34,023 shares in the company, valued at approximately $2,001,573.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,875 shares of company stock worth $15,021,192. 24.79% of the stock is currently owned by company insiders.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $56.17 on Monday. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. Skechers U.S.A., Inc. has a 12 month low of $45.58 and a 12 month high of $65.17. The stock’s 50-day moving average is $59.79 and its 200-day moving average is $57.47.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating the consensus estimate of $0.52 by $0.04. The business had revenue of $1.96 billion for 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 company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Equities analysts anticipate that Skechers U.S.A., Inc. will post 3.82 earnings per share for the current year.

Wall Street Analyst Weigh In

SKX has been the topic of several recent analyst reports. Wedbush reduced their target price on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, February 2nd. TD Cowen increased their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Bank of America initiated coverage on Skechers U.S.A. in a research report on Friday, March 8th. They set a “neutral” rating and a $67.00 target price on the stock. Monness Crespi & Hardt increased their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Barclays initiated coverage on Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.58.

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.