Principal Securities Inc. Sells 5,776 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Principal Securities Inc. lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 78.1% during the 4th quarter, Holdings Channel reports. The firm owned 1,616 shares of the textile maker’s stock after selling 5,776 shares during the quarter. Principal Securities Inc.’s holdings in Skechers U.S.A. were worth $109,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Commerce Bank grew its position in shares of Skechers U.S.A. by 949.5% during the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock worth $31,303,000 after buying an additional 423,204 shares during the period. Coronation Fund Managers Ltd. lifted its stake in shares of 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 valued at $33,382,000 after purchasing an additional 394,618 shares during the period. Wellington Management Group LLP boosted its holdings in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after buying an additional 287,939 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Skechers U.S.A. by 68.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after buying an additional 253,045 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $61.96 on Wednesday. Skechers U.S.A., Inc. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.11 and a beta of 1.19. The stock’s fifty day moving average price is $69.20 and its two-hundred day moving average price is $66.64.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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%. On average, equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,139 shares of company stock worth $7,600,899 in the last ninety days. 24.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group cut their target price on shares of 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. TD Cowen upped their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Barclays dropped their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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.