Amalgamated Bank Sells 635 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank reduced its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,744 shares of the textile maker’s stock after selling 635 shares during the quarter. Amalgamated Bank’s holdings in Skechers U.S.A. were worth $4,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates boosted its stake in Skechers U.S.A. by 192.7% in the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock valued at $3,518,000 after acquiring an additional 34,612 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Skechers U.S.A. during the 3rd quarter worth about $289,000. State of Alaska Department of Revenue increased its stake in shares of Skechers U.S.A. by 165.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 38,535 shares of the textile maker’s stock valued at $2,578,000 after acquiring an additional 24,040 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at approximately $229,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Skechers U.S.A. by 241.4% during the third quarter. Harbor Capital Advisors Inc. now owns 89,561 shares of the textile maker’s stock valued at $5,993,000 after purchasing an additional 63,328 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler began coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. TD Cowen lifted their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Evercore ISI increased their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. The trade was a 46.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,139 shares of company stock valued at $7,600,899. 24.75% of the stock is owned by insiders.

Skechers U.S.A. Price Performance

Shares of SKX opened at $61.01 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $68.91 and its 200 day simple moving average is $66.57. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.11 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal 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.