PNC Financial Services Group Inc. Sells 187 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

PNC Financial Services Group Inc. reduced its position in shares of Skechers U.S.A., Inc. (NYSE:SKXFree Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,038 shares of the textile maker’s stock after selling 187 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Skechers U.S.A. were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. Raymond James & Associates grew 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 valued at $3,259,000 after buying an additional 40,778 shares during the period. Lecap Asset Management Ltd. bought a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $1,798,000. Vaughan Nelson Investment Management L.P. grew 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 valued at $47,282,000 after buying an additional 597,702 shares during the period. International Assets Investment Management LLC grew its position in 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 buying an additional 12,378 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Skechers U.S.A. by 29.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,683 shares of the textile maker’s stock valued at $167,000 after buying an additional 603 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO David Weinberg sold 20,226 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,236,010.86. Following the transaction, the chief operating officer now owns 99,655 shares in the company, valued at approximately $6,089,917.05. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 20,226 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 $1,236,010.86. Following the sale, the chief operating officer now directly owns 99,655 shares in the company, valued at approximately $6,089,917.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,914 shares of company stock worth $5,005,765. 24.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They set a “neutral” rating and a $67.00 target price for the company. Barclays initiated coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Evercore ISI lowered their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, TD Cowen lifted their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average target price of $67.75.

Read Our Latest Stock Analysis on Skechers U.S.A.

Skechers U.S.A. Stock Up 1.7 %

NYSE:SKX opened at $70.80 on Thursday. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $72.27. The company has a 50-day moving average of $64.01 and a 200 day moving average of $61.87. The firm has a market cap of $10.80 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56.

Skechers U.S.A. (NYSE:SKXGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 earnings per share. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.06 EPS for the current fiscal year.

Skechers U.S.A. Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Skechers U.S.A. (NYSE:SKX)

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