Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,954 shares of the textile maker’s stock after selling 3,127 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Skechers U.S.A. were worth $1,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates increased its position in Skechers U.S.A. by 354.5% during the fourth quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock worth $3,259,000 after purchasing an additional 40,778 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter worth about $1,798,000. Vaughan Nelson Investment Management L.P. boosted its stake 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. Envestnet Asset Management Inc. boosted its stake in Skechers U.S.A. by 56.8% during the third quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after buying an additional 34,926 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Skechers U.S.A. by 117.4% during the third quarter. Hsbc Holdings PLC now owns 99,916 shares of the textile maker’s stock worth $4,915,000 after buying an additional 53,962 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SKX has been the subject of several research analyst reports. TD Cowen increased their target price on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Raymond James lowered their target price on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Evercore ISI lowered their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Barclays initiated coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 price objective for the company. Finally, Monness Crespi & Hardt raised their price objective on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average target price of $66.17.

Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 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 transaction of $5,737,173.93. Following the sale, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 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 transaction of $5,737,173.93. Following the sale, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Greenberg sold 25,282 shares of the firm’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 transaction of $1,544,983.02. Following the sale, the president now directly owns 123,441 shares in the company, valued at approximately $7,543,479.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,875 shares of company stock valued at $15,021,192. 24.75% of the stock is owned by corporate insiders.

Skechers U.S.A. Stock Down 0.6 %

Shares of Skechers U.S.A. stock opened at $58.82 on Friday. Skechers U.S.A., Inc. has a 52-week low of $45.58 and a 52-week high of $65.17. The company has a 50 day moving average of $59.61 and a 200 day moving average of $57.92. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $9.02 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.07 and a beta of 1.32.

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