Skechers U.S.A., Inc. (NYSE:SKX) Holdings Lowered by Quadrature Capital Ltd

Quadrature Capital Ltd trimmed its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 90.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,824 shares of the textile maker’s stock after selling 76,925 shares during the period. Quadrature Capital Ltd’s holdings in Skechers U.S.A. were worth $488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SKX. DekaBank Deutsche Girozentrale bought a new stake in shares of Skechers U.S.A. during the 3rd quarter worth about $31,000. PNC Financial Services Group Inc. raised its position in shares of Skechers U.S.A. by 7.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,225 shares of the textile maker’s stock worth $256,000 after buying an additional 381 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Skechers U.S.A. during the 3rd quarter worth about $219,000. Envestnet Asset Management Inc. raised its position in shares of Skechers U.S.A. by 56.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after buying an additional 34,926 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Skechers U.S.A. by 138.2% in the 3rd quarter. Invesco Ltd. now owns 770,710 shares of the textile maker’s stock worth $37,726,000 after purchasing an additional 447,192 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

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

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the transaction, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 24.75% of the company’s stock.

Analyst Ratings Changes

SKX has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on shares of Skechers U.S.A. in a research note on Wednesday, June 12th. They set an “overweight” rating and a $83.00 target price for the company. Evercore ISI cut their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Wedbush reissued an “outperform” rating and set a $76.00 target price on shares of Skechers U.S.A. in a research note on Friday, May 17th. Stifel Nicolaus increased their target price on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, TD Cowen upped their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Skechers U.S.A. Stock Down 0.6 %

Skechers U.S.A. stock opened at $72.62 on Monday. The firm has a market cap of $11.08 billion, a PE ratio of 19.11, a P/E/G ratio of 1.04 and a beta of 1.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The firm’s 50 day moving average price is $67.47 and its two-hundred day moving average price is $63.23. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09.

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

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.