Maryland State Retirement & Pension System Reduces Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Maryland State Retirement & Pension System lessened its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,034 shares of the textile maker’s stock after selling 689 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Skechers U.S.A. were worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SKX. Spire Wealth Management increased its stake in shares of Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares during the last quarter. Calamos Wealth Management LLC grew its holdings in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after purchasing an additional 157 shares during the period. Independent Advisor Alliance increased its position in Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock worth $302,000 after purchasing an additional 200 shares during the last quarter. Blue Trust Inc. increased its position in Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after purchasing an additional 207 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Skechers U.S.A. by 4.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the textile maker’s stock worth $315,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s 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 owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 236,738 shares of company stock valued at $14,700,809. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $57.38 on Wednesday. Skechers U.S.A., Inc. has a 52 week low of $53.79 and a 52 week high of $78.85. The company has a fifty day simple moving average of $65.02 and a two-hundred day simple moving average of $65.38. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SKX. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. TD Cowen raised their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Evercore ISI upped their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays cut their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Bank of America decreased their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.42.

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.