Quent Capital LLC Trims Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Quent Capital LLC reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 71.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,173 shares of the textile maker’s stock after selling 2,883 shares during the quarter. Quent Capital LLC’s holdings in Skechers U.S.A. were worth $79,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 364 shares during the period. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Skechers U.S.A. during the 4th quarter valued at $65,000. Brooklyn Investment Group purchased a new position in Skechers U.S.A. during the 3rd quarter valued at $67,000. Finally, Blue Trust Inc. increased its position in Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

SKX has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI upped their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $81.25.

Skechers U.S.A. Price Performance

SKX opened at $63.03 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock has a market capitalization of $9.52 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.95 and a beta of 1.19. The company’s 50-day simple moving average is $70.43 and its two-hundred day simple moving average is $66.50. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.79 EPS for the current year.

Skechers U.S.A. 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.