China Universal Asset Management Co. Ltd. Sells 16,162 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

China Universal Asset Management Co. Ltd. lessened its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 89.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,985 shares of the textile maker’s stock after selling 16,162 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Skechers U.S.A. were worth $133,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. raised its position in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Skechers U.S.A. during the 3rd quarter valued at $67,000. Blue Trust Inc. raised its position in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 887 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Skechers U.S.A. by 23.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,545 shares of the textile maker’s stock valued at $103,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $72.51 on Tuesday. The company has a fifty day moving average price of $69.65 and a 200 day moving average price of $66.20. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $78.85. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.95 billion, a PE ratio of 17.86, a PEG ratio of 0.92 and a beta of 1.19.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, January 29th. Bank of America decreased their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $80.18.

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.