ArrowMark Colorado Holdings LLC Sells 812,205 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

ArrowMark Colorado Holdings LLC reduced its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 51.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 758,227 shares of the textile maker’s stock after selling 812,205 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.50% of Skechers U.S.A. worth $50,741,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SKX. Pacer Advisors Inc. boosted its stake in shares of Skechers U.S.A. by 5,780.6% during the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Skechers U.S.A. by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock valued at $130,350,000 after buying an additional 55,095 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after buying an additional 17,429 shares during the period. Loomis Sayles & Co. L P boosted its position in Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after buying an additional 49,734 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in Skechers U.S.A. by 378.6% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after acquiring an additional 394,618 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.2 %

Skechers U.S.A. stock opened at $63.82 on Monday. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The business has a fifty day moving average price of $63.39 and a 200-day moving average price of $66.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.89 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SKX shares. Morgan Stanley boosted their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Barclays upped their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.09.

About Skechers U.S.A.

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.