Xponance Inc. Sells 189 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Xponance Inc. trimmed its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in Skechers U.S.A. by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock valued at $233,520,000 after acquiring an additional 112,517 shares during the period. Pacer Advisors Inc. grew its position in Skechers U.S.A. by 6,521.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after acquiring an additional 1,434,601 shares during the period. AQR Capital Management LLC grew its position in Skechers U.S.A. by 72.8% in the third quarter. AQR Capital Management LLC now owns 1,311,246 shares of the textile maker’s stock valued at $64,185,000 after acquiring an additional 552,452 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Skechers U.S.A. by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,253,160 shares of the textile maker’s stock worth $61,342,000 after purchasing an additional 36,278 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Skechers U.S.A. by 4.4% in the third quarter. Loomis Sayles & Co. L P now owns 827,991 shares of the textile maker’s stock worth $40,530,000 after purchasing an additional 35,154 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the sale, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the sale, the executive vice president now directly owns 14,023 shares in the company, valued at $856,945.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,875 shares of company stock worth $15,021,192. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Trading Down 0.8 %

NYSE SKX opened at $59.14 on Thursday. The stock has a 50-day simple moving average of $59.64 and a 200 day simple moving average of $57.91. The company has a market capitalization 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.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. The business 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 was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. Research analysts forecast that Skechers U.S.A., Inc. will post 3.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SKX. Wedbush reissued an “outperform” rating and issued a $68.00 price objective on shares of Skechers U.S.A. in a research note on Friday, April 19th. Bank of America began coverage on Skechers U.S.A. in a research note on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Monness Crespi & Hardt boosted their price objective on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Raymond James cut their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.17.

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.