Amalgamated Bank Sells 17,973 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Amalgamated Bank lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 22.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 63,379 shares of the textile maker’s stock after selling 17,973 shares during the period. Amalgamated Bank’s holdings in Skechers U.S.A. were worth $4,241,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. Vanguard Group Inc. raised its stake in Skechers U.S.A. by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock valued at $779,491,000 after purchasing an additional 97,666 shares during the period. Dimensional Fund Advisors LP grew 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. Coronation Fund Managers Ltd. grew its holdings in Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after buying an additional 394,618 shares in the last quarter. American Century Companies Inc. raised its position in shares of Skechers U.S.A. by 38.6% during the second quarter. American Century Companies Inc. now owns 330,769 shares of the textile maker’s stock valued at $22,863,000 after buying an additional 92,093 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Skechers U.S.A. in the second quarter worth $22,425,000. 79.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SKX has been the subject of several research analyst reports. Wedbush raised their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their target price on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen dropped their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Barclays lifted their price objective on 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 increased their target price on 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.09.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $62.29 on Friday. Skechers U.S.A., Inc. has a 12-month low of $49.06 and a 12-month high of $75.09. 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 50-day moving average price of $64.76 and a 200-day moving average price of $66.46. The firm has a market capitalization of $9.40 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping 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 return on equity of 13.71% and a net margin of 7.19%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Skechers U.S.A. declared that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.