Te Ahumairangi Investment Management Ltd Lowers Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Te Ahumairangi Investment Management Ltd trimmed its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 17.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 74,287 shares of the textile maker’s stock after selling 15,663 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Skechers U.S.A. were worth $4,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. TD Private Client Wealth LLC grew its holdings in shares of Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after buying an additional 358 shares during the last quarter. UMB Bank n.a. lifted its position in Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the period. IFP Advisors Inc grew its stake in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Skechers U.S.A. in the fourth quarter valued at approximately $65,000. Finally, Blue Trust Inc. raised its stake in shares of 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. 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, EVP Mark A. Nason sold 12,046 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares of the company’s stock, valued at approximately $1,696,604. This trade represents a 31.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SKX shares. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Raymond James reduced their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Barclays cut their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, UBS Group lowered their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.42.

Skechers U.S.A. Stock Performance

SKX opened at $57.47 on Wednesday. Skechers U.S.A., Inc. has a 1-year low of $53.79 and a 1-year high of $78.85. The stock has a market cap of $8.58 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.11 and a beta of 1.21. The stock’s 50 day simple moving average is $63.69 and its 200 day simple moving average is $65.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

Skechers U.S.A. (NYSE:SKX) last posted its 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 net margin of 7.13% and a return on equity of 13.73%. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Skechers U.S.A. Company 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.