Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by American International Group Inc.

American International Group Inc. lowered its position in Skechers U.S.A., Inc. (NYSE:SKX) by 4.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 180,537 shares of the textile maker’s stock after selling 8,847 shares during the quarter. American International Group Inc.’s holdings in Skechers U.S.A. were worth $11,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. in the third quarter valued at $31,000. GAMMA Investing LLC purchased a new position in Skechers U.S.A. in the fourth quarter valued at about $36,000. Tradition Wealth Management LLC purchased a new position in Skechers U.S.A. in the fourth quarter valued at about $56,000. Planned Solutions Inc. purchased a new position in Skechers U.S.A. in the fourth quarter valued at about $70,000. Finally, Meeder Asset Management Inc. purchased a new position in Skechers U.S.A. in the fourth quarter valued at about $77,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.9 %

NYSE:SKX opened at $72.84 on Tuesday. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.03 and a beta of 1.28. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $75.09. The stock has a 50-day simple moving average of $66.20 and a 200 day simple moving average of $62.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.08 EPS for the current fiscal year.

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

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the transaction, the general counsel now directly owns 35,000 shares in the company, valued at $2,430,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SKX shares. Evercore ISI cut their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Bank of America raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $71.00 to $87.00 in a research report on Friday, June 7th. Barclays started coverage on Skechers U.S.A. in a research report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price objective on the stock. TD Cowen lifted their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $82.00 target price on shares of Skechers U.S.A. in a research report on Thursday, June 13th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.